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Scott Varilek, Kooima Kooima Varilek, says the panic selling continues as China has hit back with a 34% retaliatory tariff on all U.S. goods and other trading partners are looking at counter measures. “This feels a lot like the COVID market response.”

Farmers and farm groups have mixed reactions and lingering questions following President Trump’s announcement of sweeping reciprocal tariffs. Will farmers receive aid to offset tariff impact? How will U.S. trading partners react?

According to new estimates from the Yale Budget Lab, the tariffs would translate into a 2.3 percentage point increase to overall inflation this year, or about a $3,800 impact for the average household.

Here are five specialty tools that — for a small investment — can save you time in the shop.

Jim McCormick, AgMarket.Net, says the markets saw risk off selling in response to President Trump’s Liberation Day tariff announcement. He says the markets may not stabilize until after the tariffs go into effect April 9 and trading partners tip their hand on retaliation.

Learn the buying trends shaping the used equipment auction market and the technologies farmers are leaning on to help them maintain profits and yields.

Kent Beadle, DTN market analyst, says grain and livestock futures are sharply lower with a knee jerk reaction to the announced tariffs from President Trump on Wednesday.

A rare coalition of oil and biofuel interests met with the Environmental Protection Agency (EPA) on Tuesday to push for significantly higher Renewable Volume Obligations (RVOs).

Tomm Pfitzenmaier, Summit Commodity Brokerage, says grains saw risk off selling and positioning ahead of President Trump’s Liberation Day announcement on tariffs. However, Mexico’s president says they don’t want a tit for tat trade war.

Farmer sentiment took a hit this month, with Purdue’s latest Ag Economy Barometer showing a 12-point drop due to concerns over trade policy, tariffs and profitability.