Dermot Hayes, professor, was quoted in an August 21 story, "As Trump Presses Trade War, Farmers Feel the Squeeze," on PEW Charitable Trusts online.
"Foreign growers’ investments will make them more formidable competition for U.S. farmers," said Dermot Hayes, a professor and agricultural economist at Iowa State University. “Once they put the infrastructure in and put that new land into production, it stays in production.”
Meanwhile, American farmers’ storage bins are filling up. The USDA expects farmers to end the year with over a billion bushels of unsold soybeans. Such a surplus could depress prices long after China and the United States strike a trade deal, Hayes said.
Research by Hayes was also cited in an August 20 Pork story, "Are U.S. Pig Farmers Giving Up Hope on Trade to China?"
"The 50% punitive tariffs on top of existing 12% duties on U.S. pork, brings the current tariff rate to 62%. As a result, U.S. pork producers have lost $8 per hog, or more than $1 billion on an annualized basis," according to Iowa State University Economist Dermot Hayes.