Farm groups are concerned about a possible trade war with China after yesterday’s announcement from the Trump Administration that the United States would be imposing a 25-percent tariff on steel and 15-percent on aluminum imports from China. Ron Moore with the American Soybean Association says China is the number one customer for U.S. soybeans and a trade war would be detrimental.
Moore says a disruption in soybean trade with China would have a negative price impact, plus it’s very difficult to reestablish market share once its lost.
National Corn Growers Association President Kevin Skunes says the U.S. corn industry has experience with China regarding trade retaliation again DDGs.
And he says the Viptera case is another good example how trade issues resulted in China backing away from the U.S. market.
U.S. Wheat Associates and the National Association of Wheat Growers are also disappointed with the Administration’s decision. The groups stated they have repeatedly warned of the risks of retaliation and the precedent set by such a policy. The groups say it’s disappointing farmers were ignored in favor of an industry that’s already among the most well-protected in the country.
