Trump eliminates tariffs and alters fertilizer dynamics

The decision by United States President Donald Trump to eliminate tariffs on imported fertilizers, announced on November 14, has modified the North American market environment and opened up new expectations for price formation in the short and medium term. According to the StoneX Weekly Fertilizer Report, the measure should reduce the cost of imported fertilizers and recover the attractiveness of the U.S. market, pointed out by the company as one of the main destinations of the global nutrient trade. StoneX Market Intelligence Analyst Tomás Pernías stated that "the tariffs imposed in the first half of 2025 created an important distortion" and highlighted that farmers faced "one of the worst exchange ratios in recent years," pressured by the fall in agricultural commodities and the increase in input costs. For him, "the suspension of tariffs tends to alleviate part of this imbalance." During the period when the tariffs were in effect, international suppliers redirected shipments to ...