Prospects for U.S. Agriculture in the Face of Trade Policy Uncertainty in 2025

One of the most newsworthy policy changes implemented by the second Trump administration has been a new approach to tariffs, taxes on international trade. Though many industries will be affected by these policy changes, agriculture is of special interest. In part, this is because agriculture has, for at least the last hundred years, been a heavily regulated and subsidized industry. The normally semi-decadal Farm Bill lays out a whole raft of agricultural subsidies including price supports, insur