Midwest soybean farmers are squeezed further by tariffs and Iran war

Midwest soybean farmers are facing an array of compounding issues. Costs, such as equipment, have crept up over time while soybean prices have stayed low. Tariffs levied by the Trump administration last year and the resulting monthslong trade war with China in 2025 only made things worse, they say. Then the Iran war bottled up shipping through the Strait of Hormuz, sending fertilizer prices sky high. A ceasefire deal announced April 7 raised hope that bottlenecks in the strait would abate, but the future of the agreement was uncertain. Experts say it will take time for global supply chains to recover from the war. China is buying U.S. soybeans again, but farmers say a recent $12 billion federal aid package isn't enough to recoup their losses during the trade war.