Trump's trade battle with China puts US soybean farmers in peril - Beijing, which traditionally has snapped up at least a quarter of all soybeans grown in the U.S., is in effect boycotting them in retaliation for the high tariffs President Donald Trump has imposed on Chinese goods and to strengthen its hand in negotiations over a new overall trade deal.
It has left American soybean farmers fretting over not only this year’s crop but the long-term viability of their businesses, built in part on China’s once-insatiable appetite for U.S. beans.
“This is a five-alarm fire for our industry,” said Ragland, who leads the American Soybean Association trade group.
https://apnews.com/article/soybeans-trade-tariff-china-united-states-export-025792707c4e4e91d975f8558edae1d8 #Ag #Agriculture #farming #farms #soybeans #TrumpTariffs #tariffs #TradeWar