Iowa Farmers Show Strong Support for Trump Ahead of Caucus, According to Ipsos Poll

Republican farmers in Iowa are expressing their desire for Donald Trump as their president, despite concerns over his talk of trade wars that could negatively impact U.S. agricultural exports. They are encouraged by the significant financial support his administration has provided to farms.

Farmers are a significant voting bloc, and Trump has made efforts to appeal to them ahead of the Iowa caucuses, with 49% of Republicans favoring him for the party’s nomination, according to a Reuters/Ipsos poll.

During a rally in Clinton, Iowa, Trump referenced the $28 billion in federal aid his administration distributed after trade wars with China, Mexico, and Canada damaged farm exports in 2018 and 2019, emphasizing his commitment to supporting farmers.

The Trump administration has indeed boosted farmers by allocating about $217 billion in farm payments, including crop support, disaster, and aid programs, according to a Reuters analysis of U.S. Department of Agriculture (USDA) data.

Despite the lucrative support, the American farm economy is facing challenges, including rising production and labor costs, declining commodity prices, elevated interest rates, and reduced government assistance, resulting in a 20% drop in net farm incomes in 2023, as per the latest USDA forecast.

While Trump’s trade policies and the possibility of further trade conflicts have caused concerns, supportive Iowa farmers remain steadfast in their backing of the former president, expressing their appreciation for his efforts to stand up for agriculture during the trade wars.

Chicago Board of Trade corn futures experienced a significant decrease in 2023, and grain exports are lagging due to abundant harvests overseas, which has led to less demand for U.S. corn and soybeans, increasing the likelihood of potential trade disputes.

Trump’s trade policies have caused both challenges and benefits for farmers. The start of his trade wars coincided with a decline in farm income, and to counteract this, his administration provided approximately $23 billion in aid to farmers in 2018 and 2019. Iowa received the second highest amount of aid, with each farm in the state receiving an average of $42,477.

Consequently, many farmers have been made financially whole and then some. A study by the University of California-Davis revealed that soybean farmers received about $5.4 billion more in aid than they lost due to price impact.

Despite the financial benefits, some farmers are turning to other candidates, wary of the potential for further trade upheaval and preferring different approaches to addressing agricultural challenges.