Soy Growers Talk Paying the Price for a Trade War with China

Apr 05, 2018

ASA Director Richard Wilkins talks tariffs and soybeans on "Fox Business" this week. Photo credit: Screenshot from Fox Business

Soy growers are frustrated, but not surprised this week, as a trade war looms with U.S. soy’s top customer. The Chinese Commerce Department announced plans to impose a 25 percent tariff on U.S. soybeans in retaliation for the U.S. proposed $60 billion in tariffs against Chinese goods. Soybean futures were already down nearly 40 cents a bushel the morning after this announcement.

Here’s a look at ASA leaders in the news discussing how tariffs impact soy growers:

  • ASA Director Joe Steinkamp, of Indiana, tells the Washington Post he exports about one-third of his soybean crop to China, so if the Chinese shun American suppliers, he risks losing around $170,000 in annual income.
  • ASA Director Brandon Wipf, of South Dakota, says if the tariff is put on, it would be devastating for U.S. growers, via Brownfield Ag News
  • Iowa Soybean Association Director Rolland Snell and ASA Director Rob Shaffer are featured on a Today Show segment, which discusses why soy growers worry they're the ones about to pay the price for an escalating trade war with China. http://ly/LGuI30ji5fy
  • Soybean grower and ASA Director Richard Wilkins discusses China’s possible plan to import soybeans from Brazil, instead of the U.S., in response to President Trump’s tariffs, via Fox Business  
  • ASA Treasurer Bill Gordon, of Minnesota, talks the impact of China tariffs on soybeans and trade, via AgWired
  • ASA Chairman Ron Moore, who raises soybeans near Roseville, Ill., says a trade war with China would hurt rural investment in rural areas, via The Wall Street Journal

Click here to read more about the work ASA is doing on trade.

Follow @ASA_Soybeans and #TradeTuesday #RethinkTheTariffs and #SoyLeaders to keep up to date on these issues and more.