Your Dec. 6 editorial on the Trump tariffs is on the money. The U.S. Federal Reserve Bank via the National Bureau of Economic Research (May 2024) pegged the post Trump tariffs in 2018-19 as reducing all U.S. net welfare (GDP value) by 3%, and stock-financial markets by $4.12 trillion (firm equity value).

My take on the impacts to ag production sales is about 30-50% during 2017-2019, using the USDA-NASS data (roughly $11 billion).

I can find no value in threatening new tariffs. They will neither yield policy results in the drug wars — no U.S. responsibility? — nor will they punish the evil Chinese communists.

Thus far, Trump is offering cliches that do not reflect intricate inter-industry relationships in international trade. Stomping your feet and telling industries to build more in the U.S., or trade less with key economic partners, displays a major lack of economic literacy.

Tariffs will harden all foreign markets to seek other trade agreements beyond the U.S. ag production markets. If the guys/gals in the agricultural industry do not get it now, they certainly will in 2025-26.

Darryll Olsen, Ph.D.

Board Representative

Columbia-Snake River

Irrigators Association

Kennewick, Wash.