Statewide Iowa – Creighton University economist Ernie Goss says his December survey of bank CEOs in rural areas shows what may have been what he calls a “Trump bump” in the Midwest economy after the election, has evaporated. The survey’s Rural Mainstreet Index was positive in November — the first and now only positive reading in 2024.
And Goss says John Deere layoffs, for example, have had a trickle down effect to the smaller businesses that supply the parts for tractors and other John Deere products.
But Goss says if Trump imposes new tariffs on Canada, Mexico AND China, it’s likely those countries would retaliate against American products. And it’s unlikely farmers would get the kind of trade disruption payments they received during the previous Trump Administration.
Goss made his comments during an appearance on Iowa Press on Iowa PBS.
