August 08, 2025

Trump Hits India with More Tariffs Over Russian Oil Purchases

India may be looking at a one percent drop in the country’s gross domestic product (GDP) after U.S. President Donald Trump added to potential tariffs on goods from India. Analysts say the new costs were imposed on India because it purchased Russian oil. The Economic Times said the tariffs, announced on Thursday (today), will take effect in 21 days. The move happened hours ahead of a separate 25 percent tariff that is set to take effect, which means many Indian exports may soon face 50 percent duties. Bloomberg says the hike may cut down India’s outbound shipments of goods to the U.S. by 60 percent, potentially cutting one percent from the GDP. New Delhi reacted strongly to the U.S. announcement, calling the move “unjustified.” The Indian government said the country has been unfairly targeted because other nations are buying oil from Russia and not getting targeted by the White House. 

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Washington Lost Almost 4,000 Farms in Five Years

Washington state lost 3,700 farms between 2017 and 2022, an average of two farms per day. That’s according to the USDA Census of Agriculture and in the recently released “Mental Health and Suicide Prevention for Agricultural Producers and Workers Report” compiled by the Washington State Department of Agriculture. Center Square said the report cites many factors, including the rising cost of agricultural production. “Economic hardship is one element that has the potential to make mental health risks worse,” the report said. “For example, due to the high need for loans, borrowers are required to tolerate high financial risk.” Washington State Representative Tom Dent, who secured funding for the report, said, “What some of us have known is that we’re being overregulated,” said Dent, who owns a farm outside of Moses Lake, Washington. “We’ve regulated our producers into an unaffordable place to be, right?” Washington’s suicide rate consistently exceeds the national average. 

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EPA: MAHA Report Will Respect Glyphosate Safety

While the original Make America Health Again Commission report said glyphosate and other pesticides may have a negative impact on children’s health, the upcoming report will be different. The next MAHA Commission report will respect the regulatory frameworks that found glyphosate to be a safe product to use. Those words came from a high-ranking Environmental Protection Agency official at the American Sugar Alliance’s International Sweetener Symposium. Nancy Beck, a deputy administrator for the EPA’s Office of Chemical Safety and Pollution Protection, says it’s important to remember that EPA Administrator Lee Zeldin and Ag Secretary Brooke Rollins are members of the Commission. Beck, a political appointee who has a lot of experience in government and the private sector, told members of the ASA that she couldn’t share the contents of the report, which is expected to be released soon. “We do know that pesticides are vital tools,” Beck said. 

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Farm Real Estate Values Top $4,000 Per Acre

The U.S. Department of Agriculture’s National Agricultural Statistics Service recently released its 2025 Land Values Summary. The U.S. farm real estate value, a measurement of the value of all land and buildings on farms, averaged $4,350 per acre for 2025, up $180 per acre, or 4.3 percent, from 2024. California was the most expensive in the country, with farmland real estate valued at $13,700 per acre, up 2.2 percent from the previous year. The U.S. cropland value averaged $5,830 per acre, an increase of $260 per acre, or 4.7 percent, from the prior year. It’s up significantly from 2011, when the average cropland value was $2,980. California’s cropland value was $17,940, up 3.6 percent from the previous year, while Iowa’s cropland averaged $10,300 an acre, up 5.1 percent from 2024. The United States pasture value averaged $1,920 per acre, an increase of $90 per acre, or 4.9 percent, from 2024. 

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Legislation Will Help Rural Businesses Increase International Exports

Senators Amy Klobuchar (D-MN) and John Hoeven (R-ND) reintroduced the Promoting Rural Exports Act, bipartisan legislation formally establishing a National Rural Export Center. It would also authorize the creation of up to nine Regional Rural Export Centers. The bill aims to help businesses in rural areas increase their exports by improving access to international markets. “Businesses in rural areas shouldn’t be denied opportunities just because of their location,” said Senator Klobuchar. “Our bipartisan legislation will help ensure rural businesses have the resources they need to reach new markets, boost exports, and continue to innovate and grow.” The Act would direct the Assistant Secretary of Commerce to formally establish the Rural Export Center in the Commerce Department to serve as the lead coordinating hub for rural export assistance nationwide. It would also require the Rural Export Center to be located at an existing Commerce Department Office outside of major metropolitan areas. 

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Missouri River Runoff in July Was Below Average

July runoff in the Missouri River Basin above Sioux City, Iowa, was two million acre-feet, 62 percent of the average. The annual runoff forecast above Sioux City is 19.2 million acre-feet, 75 percent of the average. “Above-normal precipitation occurred in much of the basin, though areas of western Montana and Wyoming continue to be very dry,” said John Remus of the U.S. Army Corps of Engineers. “The dry soil moisture, below-normal rainfall in the mountains, and below-normal mountain snowpack runoff have led to well below-average reservoir inflows into the Fort Peck and Garrison reaches on the river.” The U.S. Drought Monitor indicated that 53 percent of the basin was not experiencing drought conditions, an improvement of 15 percent since July 1. The Drought Outlook indicates drought conditions are expected to persist or expand throughout the basin through the end of October. System storage on August 1 was down from July 1.

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