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

first_imgASA Director Richard Wilkins talks tariffs and soybeans on “Fox Business” this week. Photo credit: Screenshot from Fox BusinessSoy 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. 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 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/LGuI30ji5fySoybean 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 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 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.last_img