skip to main content
skip to newscasts

Thursday, March 28, 2024

Public News Service Logo
facebook instagram linkedin reddit youtube twitter
view newscast page
play newscast audioPlay

Pulling back the curtains on wage-theft enforcement in MN; Trump's latest attack is on RFK, Jr; NM LGBTQ+ equality group endorses 2024 'Rock Star' candidates; Michigan's youth justice reforms: Expanded diversion, no fees.

view newscast page
play newscast audioPlay

Transportation Secretary Pete Buttigieg says rebuilding Baltimore's Key Bridge will be challenging and expensive. An Alabama Democrat flips a state legislature seat and former Connecticut senator Joe Lieberman dies at 82.

view newscast page
play newscast audioPlay

Historic wildfires could create housing and health issues for rural Texans, a Kentucky program helps prison parolees start a new life, and descendants of Nicodemus, Kansas celebrate the Black settlers who journeyed across the 1870s plains seeking self-governance.

Report: Trade War Over Tariffs Could Cost Arkansas Farmers Millions

play audio
Play

Monday, March 12, 2018   

LITTLE ROCK, Ark. – If President Donald Trump's tariffs on steel and aluminum imports start a trade war, Arkansas could take an almost $400 million hit to its economy.

Agricultural economists at the University of Arkansas say if the state's major trading partners retaliate with similar import taxes on commodities such as soybeans, rice, corn and grain sorghum, the value of those products could drop precipitously.

Eric Wailes, a professor of agribusiness at the University of Arkansas, says the state is vulnerable because it is a major player in the global markets.

"More than half of our production gets exported,” he points out. “China is one of our major markets, particularly for soybeans and for sorghum. And basically there's just concern that the potential for retaliation, certainly by countries like China, is possible."

Wailes estimates a trade war could cause Arkansas agriculture to lose almost 4,500 jobs and reduce labor income by $261 million.

He adds that the loss of output could cost the oilseed farming sector $244 million and another $191 million in the grain farming sector.

Wailes and other economists at the University of Arkansas issued the analysis late last week.

Wailes says the United States is among the largest exporters of rice, corn, soybeans and sorghum in the world, and Arkansas ranks among the top producing states. He adds that the state ships grain to almost every corner of the globe.

"Our major export markets are Japan, China,” he explains. “The European Union is another important market, and then we've got South Korea, Taiwan. We export to well over 150 countries."

He says the impact of a trade war could extend beyond the farm belt to all of Arkansas.

"It reverberates in terms of impacts on the input sector, on the retail sector,” he stresses. “If we take a hit in terms of the value of our agriculture production, that reverberates throughout our entire state economy."

Wailes says markets lost to trade wars can take decades to rebuild, as numerous other countries – such as Brazil, Argentina and Australia – stand ready to jump in and sell their commodities.


get more stories like this via email

more stories
A report from the Tennessee HealthCare Campaign recommended the federal government needs to strengthen 340B drug pricing and other federal negotiation mechanisms to make needed medicines more readily available and less expensive for hospitals to purchase and administer. (Spotmatikphoto/AdobeStock)

Health and Wellness

play sound

A recent report examined how some rural Tennessee hospitals have managed to stay afloat despite financial challenges. The report includes interviews …


Social Issues

play sound

Earlier this month, a new Arizona Public Service rate hike went into effect and one senior advocacy group said those on a fixed income may struggle …

Social Issues

play sound

Michigan recently implemented a significant juvenile justice reform package following recommendations from a task force made up of prosecutors…


Nearly 13 million Americans receive health coverage through unique plans under both Medicare and Medicaid. They are known as Dual-Eligible Special Needs Plans. (Adobe Stock)

Health and Wellness

play sound

Medicare and Medicaid are key sources of health coverage for many Americans and some people qualify for assistance under both programs. With lagging …

Social Issues

play sound

A mix of policy updates and staffing boosts has helped to put wage theft enforcement on the radar in Minnesota, and officials leading the efforts are …

More than six in 10 Americans favor keeping the abortion pill mifepristone available in the U.S. as a prescription drug, while over a third are opposed, according to a Gallup poll. (Adobe Stock)

Social Issues

play sound

New research shows more than six in 10 abortions in the U.S. last year were medically induced, and U.S. Sen. Catherine Cortez Masto - D-NV - is …

Social Issues

play sound

Colorado is working to boost the state's agricultural communities by getting more fresh, nutritious foods into school cafeterias - and a new online …

Social Issues

play sound

Missouri lawmakers are concerned with protecting people from the potential risks of the increasing accessibility of AI-generated images and videos…

 

Phone: 303.448.9105 Toll Free: 888.891.9416 Fax: 208.247.1830 Your trusted member- and audience-supported news source since 1996 Copyright © 2021