An economist from Creighton University, Ernie Goss, says that a boost to the Midwest economy, which he refers to as the Trump bump after the election, has faded away.
His December survey of bank CEOs in rural areas found that the economy was only slightly positive in November, and that was the only positive sign in 2024 so far.
Goss also mentioned that layoffs at John Deere have impacted smaller businesses that provide parts for their tractors and other products.
He warned that if President Trump imposes new tariffs on Canada, Mexico, and China, those countries might retaliate by placing tariffs on American goods.
He believes farmers likely wouldn’t get the same kind of financial support they received during Trump’s previous term. Goss shared these views during an appearance on Iowa Press, a show on Iowa PBS.