On June 29, President Trump declared an emergency and temporarily suspended the duties that have kept phosphate fertilizer from Morocco off American fields. Fertilizer is a globally traded commodity, with prices set by world production, demand and the cost of shipping from source to farm. Before the duties, in 2019 and 2020, Morocco supplied 72 percent of U.S. phosphate fertilizer imports. The regulatory clock is worth walking through, because it maps almost step by step onto the run-up in prices. The logical, and lasting, next step is to end the phosphate duties for good.