Study: Iowa economy could see $1.6bn hit from tariffs

September 25, 2018

Dr. John CrespiJohn Crespi, professor and interim director of CARD, was interviewed for a story in the Sept. 24th Financial Times on a CARD study that reveals the impacts that current trade disruptions are having on Iowa's economy.

“Given Iowa’s strong rankings for many agricultural products, national patterns mimic state export patterns,” wrote the authors of the study, led by John Crespi, an Iowa State professor.

The study’s modelled scenarios generated potential economic losses in a range of about $800m to $2.3bn depending on whether they accounted for things such as other sectoral impacts or an estimated $550m in financial relief Iowa farms could receive from the government to offset tariff-related impacts on agriculture. Still, the estimates represent about 1 to 2 per cent of Iowa’s state gross product, which was $190bn in 2017.

News Type: