When evaluating the U.S. government’s tariff policy, farmers express short-term concerns about farm incomes but maintain long-term confidence in the resilience of the U.S. agricultural economy. According to the April survey from the Purdue University – CME Group Ag Economy Barometer, over half of the 400 farmers surveyed (56%) anticipate a negative impact on 2025 farm income due to the tariff policy. However, 70% of respondents believe that the increased use of tariffs will ultimately strengthen the U.S. agricultural economy in the long run.
Figure 1. Expected Impact on 2025 Farm Income of U.S. Tariffs on Imports, April 2025
