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CHAMPAIGN, Ill. (WCIA) — The agriculture industry in Illinois is preparing for what tariffs could mean for their businesses.
Earlier this week, President Donald Trump made a post on Truth Social suggesting farmers increase their production to be sold inside the United States. Trump also said tariffs will go on external products starting April 2.
For Total Grain Marketing in Champaign, they’ve got their eyes on possible retaliatory tariffs from China, Mexico and Canada.
“Some days, we think this is going to work out soon and for the better,” said Greg Johnson, a Grain Originator at Total Grain Marketing. “The farm community is pretty optimistic, but on days when it sounds like the trade negotiations may not be going as well and the tariffs may be with us for a while, that’s obviously not a good situation.”
Johnson said the three countries on the receiving end of Trump’s tariffs are also some of the biggest consumers of Illinois Ag products. Mexico is the biggest buyer of Illinois corn, Canada for ethanol and China for soybeans.