America’s soy growers are lined up even more precisely in the crosshairs of President Donald Trump’s contentious tariff confrontation with China.

What happened?

Trump announced Monday, that $200 billion in additional Chinese goods will be hit with a 10 percent tariff, deepening the likely free fall in prices that producers of soy and soy products are feeling directly in their wallets, and which threaten the stability of their market long-term.

What ASA Said:

• The American Soybean Association (ASA) is disappointed and highly concerned that trade tensions continue to ratchet up rather than deescalate between the two countries and that its repeated requests to the Administration for a non-tariff solution that does not threaten the market stability and livelihoods of soy growers has not been put forward.
• “Soybean prices are declining as a direct result of this trade feud,” said John Heisdorffer, Iowa soybean grower and president of American Soybean Association (ASA). “Prices are down almost a dollar and a half per bushel since the end of May – and continue to plummet. That represents a loss of more than $6.0 billion on the 2018 soybean crop in less than a month. We have approached the Trump Administration repeatedly and implored them to hear our side of this story.”

What happens now?

According to the Business Insider, as the latest tariff threats continue to threaten the U.S. economy, the Administration doesn’t expect the trade feud to die down anytime soon.

What is ASA doing?

Earlier this week, ASA joined a letter urging Congress to step in on U.S. trade policy as tariffs threaten the economy. ASA continues to ask the Administration to work with soybean farmers to find ways to reduce our trade deficit by increasing competitiveness rather than erecting barriers to foreign markets.

Take Action:

• Contact the Administration through the Soy Action Center: https://bit.ly/2MtEq4t
• Tell your Congressional Representatives that tariffs hurt soy growers: https://bit.ly/2LV6NaB
• Social Media: ASA will begin using the hashtag #RethinkTheTariffs, and will continue using #TradeNotTariffs where appropriate.