Minnesota farmers say President Trump’s tariffs will have big impacts

For almost 160 years, the Lundell family has owned and farmed land in Cannon Falls.

The corn and soybean farm became the focus of Gov. Tim Walz’s visit Tuesday afternoon, a stop meant to highlight the impact of President Trump’s tariffs.

“For whatever reason, we decided to pick a fight with our biggest trading partners,” Walz said.

In 2023, the U.S. exported nearly $90 billion dollars in agricultural products to Canada, Mexico and China.

The governor said Minnesota’s exports to Canada and Mexico are more than $1 billion to each country each year.   

Should the tariffs go on for too long, Walz said he is concerned the U.S. will lose its top trading partners.

“For those who think we’re going to win this, and Canada’s going to give in, that’s a very simplistic way of looking about this,” Walz said.

Danny Lundell said the tariffs will impact the price he pays for potash — a valuable soil nutrient — something he can only get from Canada.

“We need potash to raise healthier crops,” Lundell said.

Mr. Trump recently went to social media, telling farmers to “have fun” selling domestically. 

The Lundells said that’s just not realistic.

“We’re a global economy,” Danny Lundell’s wife, Mary Lundell, said. “I mean, you can’t just focus on interior, in the U.S. only.”

Minnesota Agriculture Commissioner Thom Petersen said he hopes calmer heads prevail.        

“I was at a plant in southwest Minnesota, who is just working on signing their agreement to go into Canada. Now they’re not sure what they’re going to do,” Petersen said.

Source link

Visited 1 times, 1 visit(s) today

Related Article

Warren Buffett Says This Investment Is “The Best Thing” — and It Could Turn $200 per Month Into $1 Million

The right investment can be life-changing, generating long-term wealth and helping build financial security. And according to Warren Buffett, it’s simpler than many people think to create a robust portfolio. In Berkshire Hathaway‘s 2020 shareholder meeting, the investing legend offered some advice for everyday investors looking to earn more from the stock market. Will AI

Palantir Is Growing at a Jaw-Dropping Rate, but Is the Stock a Buy?

Few companies are doing as well as Palantir Technologies (PLTR 4.38%). It just announced another impressive quarter, with revenue growth coming in at an outstanding 85% year over year. With a growth rate like that, it may seem like the sky is the limit for Palantir, but growth isn’t everything with a stock. There are

Which AI Supercycle Stock Will Make You Richer Over the Next 10 Years?

The artificial intelligence (AI) supercycle has produced no shortage of stock market winners. But two worth calling out are Advanced Micro Devices (NASDAQ: AMD) and Intel (NASDAQ: INTC). AMD is firing on all cylinders, with accelerating revenue growth and multi-year customer commitments worth tens of billions of dollars. Meanwhile, Intel is finally showing signs of

ET logo

Dow Jones Is Falling S&P 500 and Nasdaq Rise: US stock market today: Why is Dow Jones crashing while the S&P 500 and Nasdaq rise? Dow falls 260 points as inflation heats up and Trump heads to China

US stock market today: The Dow Jones Industrial Average is falling hard today — and yet the broader stock market is actually moving higher. That apparent contradiction is not a glitch in the financial matrix. It is a precise, almost clinical signal about which corner of the economy investors fear most right now. On Wednesday

Tel Aviv Stock Exchange profit soars 116% after shift to Monday-Friday trading week

The Tel Aviv Stock Exchange reported a sharp jump in first-quarter results for 2026, helped by stronger activity across its business lines and a major boost in trading volumes following the move to a Monday-Friday trading week. Revenue totaled 183.3 million shekels, about $63.2 million, in the quarter, up about 40% from the same period

Alibaba stock surges after earnings report

What happened: Alibaba (BABA) stock climbed more than 8% on Wednesday. What’s behind the move: The Chinese e-commerce and cloud giant reported a 3% increase in fourth quarter revenue on Wednesday. Alibaba’s earnings were weighed down by higher spending on AI initiatives, cloud infrastructure expansion, and continued investment in its rapid-delivery business, which aims to

Why Nokia Stock Jumped 12% Today

Shares of Nokia (NOK +11.69%) were up by 12.1% at 2:30 p.m. ET today. The Finnish telecom equipment and services veteran reached a fresh multi-year high, revisiting prices last seen in the spring of 2009. The jump was powered by (yep, you guessed it) a new Nokia service that puts AI agents in charge of

Bulls bet big on these three China-related stock trades during Trump visit

President Donald Trump and a cavalcade of American business leaders landed in Beijing Wednesday for talks with Chinese leader Xi Jinping, and market bulls are following. Chinese stocks, ETFs and related themes posted some of the biggest rallies in months. Shares of e-commerce giant Alibaba surged 8% despite reporting earnings in the morning that missed

Why Lucid Stock Skyrocketed Today

Lucid (NASDAQ: LCID) stock posted big gains in Wednesday’s trading. The company’s share price rose 6.3% in a session that saw the S&P 500 gain 0.5% and the Nasdaq Composite rise 1.2%. Lucid stock had been up as much as 11.8% earlier in the day. After yesterday’s big stock market sell-off driven by a hotter-than-expected

Apple stock notches fresh record as tech rebounds

What happened: Apple (AAPL) stock closed at a record high on Wednesday as tech stocks rebounded from a sell-off the previous day. What’s behind the move: Shares of the iPhone maker rose to an intraday high of $300 before closing at a record just below $299. The stock rose alongside some other “Magnificent Seven” names

Why Palantir Stock Is Sinking Today

Palantir (PLTR 4.30%) stock is moving lower again in Wednesday’s trading. The company’s share price was down 4.5% as of 2:50 p.m. ET despite a bullish backdrop for the broader market. The S&P 500 was up 0.7% at the same point in the session, and the Nasdaq Composite was up 1.4%. Stocks are rebounding after

Is This Rally Finally the Real Thing?

Shares of Qualcomm Inc NASDAQ: QCOM are trading around $210 after one of their most explosive rallies in recent years. Just last month, the stock traded as low as $122, but earlier this week it was up near $250. While it’s cooled slightly in the last few sessions, that’s still a rapid gain of more

Here’s What Happened After the 5 Biggest IPOs in Stock Market History

With SpaceX targeting a $2 trillion valuation at its IPO this summer and raising $75 billion in the process, it will be by far the largest public debut in market history. So it’s worth considering what happened when companies set IPO records in the past. Did the previous five largest IPOs reward Day 1 shareholders?

Is a summer stock market crash now inevitable?

Image source: Getty Images The first rule of predicting a stock market crash is never, ever predict a stock market crash. Why? Because they’re entirely unpredictable. As the world faces the biggest energy shock in its history, I’d have expected global share prices to have gone into meltdown weeks ago. But they haven’t. So why

0
Would love your thoughts, please comment.x
()
x