A group of Iowa Soybean Association members are in China this week on a trade mission. Iowa Soybean Association CEO Kirk Leeds says there’s a lot of concern on the trip about possible retaliation by China against the U.S. for tariffs being sought by the Trump administration, including those newly announced targeting intellectual property.
Leeds says both countries have legitimate concerns about trade and it’s in the best interests of both parties to reach a positive conclusion.
ISA President Elect Lindsay Greiner, a farmer from Keota says both Chinese and U.S. officials want to resolve trade issues.
ISA Director of Market Development Grant Kimberley says the retaliation is alarming for the soybean industry because China is their number one customer. He says last year total Chinese imports of soybeans hit a record 93.5-million metric tons, with much of that coming from the United States.
He says the next marketing year Chinese soybean imports are projected to grow to 100 million metric tons.
