RICHMOND—Virginia farmers may soon have another option for exporting their products, Gov. Glenn Youngkin told attendees at the 16th annual Virginia Agricultural Trade Conference April 22.

The event brings policymakers, agriculture and forestry businesses, international dignitaries, academic leaders and college students together to highlight the vital role of agriculture and forestry in Virginia’s international trade landscape.

At the conference, Youngkin said an agreement had been reached that morning in which India will double its trade relationship with the U.S. “India has been mostly closed to Virginia and U.S. (agriculture) exports, so this is a great opportunity for Virginia to expand its export business.”

That comes as welcome news since U.S. Department of Agriculture chief economist Seth Meyer said the outlook for agricultural cash crops is “not looking favorable.”

Prices have “moved modestly lower over the last year and remain soft” for corn, soybeans, hay and wheat, Meyer noted during the conference. He said some farmers indicated they intend to plant additional corn instead of soybeans.

Last year saw a sharp drop in commodity prices, and there’s been lots of volatility over the past couple of years, including high input costs, Meyer said. He added that inputs like feed and labor are expected to increase, adding to farmers’ declining bottom lines.

Mexico, Canada and China are the top markets for U.S. agricultural exports, he continued. “Exporters are facing prohibitive retaliatory tariffs from China, and negotiations appear to be ongoing with numerous countries. A lot of uncertainty remains as farmers head to the field to plant spring crops.”

Ned Steiner, senior director of international trade and governmental relations for Sandler, Travis & Rosenberg P.A., an international trade law firm, attempted to explain the current tariff situation.

“I’m going to provide a sort of decoder ring for understanding trade policy and tariffs,” Steiner told the approximately 150 conference attendees.

Steiner said the perception is that the U.S. faces an unfair trade environment and that tariffs on U.S. exports have fed into that perceived unfairness.

The tariffs imposed by the current administration are the fulfillment of President Donald Trump’s original vision of everything being subject to tariffs.

Steiner explained that there are two kinds of tariffs—reciprocal tariffs, which are based on a trade deficit between the U.S. and another country and happen quickly. They are based on bilateral relationships and can be negotiated.

Sectoral tariffs, on the other hand, are imposed based on imports of certain goods that may threaten national security. These are based on supply chains that may extend across multiple countries. These tariffs are non-negotiable. Current sectoral tariffs include levies on steel and aluminum and autos, and potential tariffs on semi-conductors and pharmaceuticals.

Steiner said many countries are holding back on imposing retaliatory tariffs against the U.S. because they don’t want tariffs to escalate, but are instead coming to the table to negotiate. “These conversations are a positive,” he noted.

Tariffs are not going to go away, he added. “It’s not a question of ‘if,’ it’s ‘when,’ the president will impose (more) tariffs and also ‘how long’ the tariffs will stick.”

He recommended that farmers and others contact their legislators and “let them know the real-world effects tariffs are having on you.”

Media: Contact Meyer; Steiner at 202-730-4970; or Wilmer Stoneman, vice president of agriculture, development and innovation for Virginia Farm Bureau Federation, at 804-347-5764.