Potash and Foreign Policy

This morning, President Trump announced on social media that the U.S. is working on a trade deal that would enable purchases of potash from Belarus: The conflict in Iran has raised the cost of fertilizer to American farmers, so the administration is under pressure to address that cost. Potash (potassium) is an important fertilizer, but its cost has been impacted only slightly by the Iran conflict. Still, a trade deal that would lower the cost of potash would be welcomed by farmers. Hence this morning’s announcement. But there is not yet a deal with Belarus. What is going on is...