A Lexington area farmer says Friday’s U.S. Supreme Court ruling striking down the Trump administration's tariff policies will provide long-term benefit but more short-term uncertainty.
David Schuler is a corn, soybean and livestock farmer. He said the court ruling will likely take a while to reset the markets.
“As a producer, we just want to get back to more even times. The pendulum seems to be swinging back and forth too much. That’s why it’s hard to gameplan for which way the pendulum is going to swing,” Schuler said.
Schuler said corn and soybean prices have been OK, but not high enough to keep up with the cost of fertilizer and other supplies.
“Between geopolitical conflicts and then tariffs, we’ve seen some fertilizer prices continue to tick higher, particularly nitrogen and phosphorous where we heavily rely on foreign resources there,” he said. “The big talking point is soybeans in China, the conflict there. We’re still seeing pretty good prices for soybeans but obviously with China being one of our main buyers, we’ve seen some dips in the market when the U.S. and China have had some spats."
Gov. JB Pritzker said Friday that he sent a letter with an invoice to President Trump, demanding that he return $8.7 billion to Illinois families. He claims tariffs have cost the average Illinois family $1,700.
"Your tariff taxes wreaked havoc on farmers, enraged our allies, and sent grocery prices through the roof,” Pritzker wrote to the president. “This morning, your handpicked Supreme Court justices notified you that they are also unconstitutional.”
In response to the court ruling, McLean County Chamber of Commerce President and CEO Charlie Moore said the business group supports policies that expand international trade opportunities, reduce barriers for exporters, and strengthen access to global markets for local businesses.
“We’ve heard from our members that they need policy, including tariffs, that reduce operating costs and allows their businesses to drive our economy forward,” Moore said in a statement.
Illinois Farm Bureau President Phillip Nelson said in a statement the farm bureau is closely monitoring the ruling.
“While we support the goals of security and ensuring fair trade and understand the use of tariffs as a negotiating tool in the short-term, we have long-supported trade policies that seek to establish new, diverse market opportunities while eliminating existing trade barriers,” Nelson said, adding the farm bureau is encouraged by a recently announced trade agreement with Indonesia.
The Illinois Soybean Association issued a statement Friday, saying soybeans farmers "have seen a negative impact on their profitability due to tariffs amid shifting trade dynamics and rising input costs of fertilizer, seed, pesticides and agricultural equipment."
"Trade plays a vital role in the success of Illinois soybean farmers,” group chairman Bryan Severs said in a statement. “We are proud to grow a high-quality product that is in demand around the world, and strong trade relationships ensure our soybeans reach our customers efficiently. When markets are open and dependable, it creates opportunity for farmers to contribute to a thriving agricultural economy.”
