Polk County, Iowa — Iowa Farm Leader Says Tariffs, Diesel Devastating

Aaron Lehman, president of the Iowa Farmers Union and a fifth-generation farmer in Polk County, Iowa, said diesel prices and tariffs "have been devastating for farmers," speaking on Bloomberg's "Balance of Power" with Kailey Leinz and Joe Mathieu on Oct. 22, 2026. Lehman said he has not felt that an Iowa voice has been standing up for farmers in Washington, and he argued that temporary relief measures do not address the underlying causes of the financial strain growers are facing.

What is driving up diesel costs for farmers?

Lehman pointed to diesel prices as one of two forces squeezing farm budgets, alongside tariffs. He did not cite a specific per-gallon figure in the interview, but he framed fuel costs as a direct hit to farm operating margins at a time when growers already face thin returns. He said any relief needs to go beyond a short-term patch.

How have tariffs compounded the strain?

Lehman said tariffs have layered additional pressure onto farmers already managing high input costs. He said farmers need relief, but cautioned that temporary measures — without naming specific programs — do not fix the structural problems behind the squeeze. His comments did not specify which tariffs or trading partners he had in mind beyond the general policy.

Why does Lehman call agriculture a monopoly problem?

Lehman said agriculture has a monopoly problem that leaves farmers especially vulnerable when fertilizer supplies are disrupted. He connected that concentration to farmers' limited ability to absorb shocks elsewhere in the supply chain, arguing that consolidated input markets compound the damage from high diesel costs and tariffs rather than cushion it.

What does Lehman say about the Trump-Putin diesel deal?

Lehman said he finds President Donald Trump's deal with Russian President Vladimir Putin aimed at lowering diesel costs "disturbing." He did not detail the terms of the arrangement in the clip, but his reaction signals skepticism from at least one farm-group leader toward using a bilateral arrangement with Moscow as a lever on U.S. fuel prices.

Quick reference

Glossary

• Tariff: A tax imposed on imported goods, which can raise costs for farmers who buy imported inputs or sell into affected export markets.
• Diesel price pass-through: The way fuel cost increases work through planting, harvesting and transport, directly affecting farm operating margins.
• Agricultural monopoly/concentration: A market structure in which a small number of firms control inputs such as fertilizer, limiting farmers' options when supplies are disrupted.

What's next to watch

• Whether Washington offers farmers anything beyond short-term aid, which Lehman said does not address root causes.
• Details of the Trump-Putin diesel arrangement and whether it measurably moves fuel prices for U.S. farmers.
• Any federal response to the concentration concerns Lehman raised around fertilizer supply.
• Further comment from the Iowa Farmers Union or other farm groups on tariff exposure heading into the next planting cycle.

Full interview: Bloomberg's "Balance of Power".