U.S. Senator Chuck Grassley worries about tariff retaliation against the agricultural community. 

Grassley has a suggestion for President Trump when it comes to the retaliation: “Now the President says don’t worry. We are going to make it up out of the Federal Treasury if farmers get hurt. Farmers want to get their money from the market place, not from the Federal Treasury. So one of the things that I am suggesting is that if there is retaliation against American agriculture because of tariffs, that the President ought to overcome the mistake that Biden made by only having 3 1/10ths billions gallons of biodiesel made from soybeans, to mix with petroleum diesel. We need to get that up to about five and half billion gallons, and if we do that, that will raise the price of soybeans. And it will compensate for some of the harm that is done through tariffs. 

The trade outlook received some good news the weekend of May 10 when the United States and China agreed to a reduction of tariffs on most goods from 125% and 140% down to 10% and 30%. Early May also saw the U.S. announce a trade deal with the United Kingdom. Some U.S. ag groups, including the Fertilizer Institute, have advocated for tariff exemptions for products such as ag fertilizers coming from Canada.