Trump says fertilizer prices will come ‘way down’ as attacks continue near Strait of Hormuz

Attacks continued near the Strait of Hormuz on Friday as President Donald Trump told farmers in a Wisconsin swing district that fertilizer prices would drop soon.

The U.S. military said it shot down Iranian attacks launched toward Gulf Arab allies and the strait Friday.

“The attack drones posed an immediate threat to regional maritime traffic,” U.S. Central Command wrote on social media, adding that U.S. forces subsequently struck Iranian coastal surveillance radar sites “to defend against further attacks.”

The exchange of fire is once again testing the shaky ceasefire and efforts to reopen the crucial waterway.

Farmers have been dealing with rising costs due to stalled traffic in the strait, which typically handles about a fifth of the world’s oil shipments and nearly a third of global fertilizer trade. Fertilizer prices have risen by roughly 40% since the war began.

In an April survey conducted by the American Farm Bureau Federation, roughly 70% of farmers reported being unable to afford all the fertilizer that they needed. Experts say higher production costs could trickle down to food prices over time.

“We’re going to come out of Iran very quickly, and it’s going to be very strong one way or the other, whether it’s a piece of paper or the very tough way,” Trump said. “The very tough way is maybe the easier way, but we’re going to come out, and your fertilizer prices are going to go way down, just like they were four months ago.”

Trump made the comments during a farmer-focused roundtable in Wisconsin’s 3rd Congressional District, which is considered one of the most competitive races this year in the fight for control over the U.S. House.

“They know they’re in trouble,” said Sen. Tammy Baldwin, D-Wis., of Republicans. “They know across the country they’re in trouble.”