It's devastating news for farmers gearing up for fall harvest.

The Center for Agriculture and Rural Development (CARD) says farmers should prepare to take a hit on crop prices this fall.

The agricultural organization recently completed a study at Iowa State University showing how current trade disruptions have impacted Iowa's economy.

The study shows the soybean industry faces losing between $159-million to $891-million dollars.

Livestock is also expected to lose upwards of $900-million dollars, especially in the hog industry.

Trae Hestness of Farm Bureau tells KIMT this will have a direct impact on all Iowa residents.

“About one-in-five residents of Iowa are related to agriculture or have an income from agriculture, so you're thinking about one-in-five of your customers that walk through the door are going to be affected by these tariffs either financially or their jobs are affected by this,” said Hestness.

The full report from CARD is available here.