As we’ve pointed out, input costs are skyrocketing for farmers because of the Iran war, which has disrupted the export of nearly half of some nitrogen fertilizers:

As well as up to 30% of some phosphate fertilizers, including monoammonium phosphate (MAP), diammonium phosphate (DAP), and triple superphosphate (TSP):

But the phosphate tariffs (officially “countervailing duties”) imposed by the Biden Administration on Morocco may be even more destructive than the current geopolitical crisis, because Morocco is where most of the world’s phosphates are:

The Trump administration is currently conducting a five-year review of Biden’s phosphate tariffs. To prevent a big spike in food prices in the months ahead, the tariffs should be immediately repealed.