Tariffs: 'A devastating effect on every soybean farmer in America'
In response to the recent announcement that China is proposing to tax U.S. soybean imports by 25 percent, according to the Chinese Ministry of Commerce, the American Soybean Association, the U.S. Soybean Export Council and the United Soybean Board release the following statements.
"ASA has consistently raised our significant concern since the prospect for tariffs was raised. Now this is no longer a hypothetical, and a 25 percent tariff on U.S. soybeans into China will have a devastating effect on every soybean farmer in America," says ASA President John Heisdorffer. "We believe strongly that soy can help reduce our trade deficit by increasing competitiveness, and we will continue to work with our partners at USB and USSEC to show how that's possible."
"The U.S. Soy industry has a 36-year track record of actively investing and partnering in programs that support China's goals of achieving sustainable food security and food safety," says USSEC Chair Derek Haigwood, a soybean farmer from Newport, Arkansas. "U.S. soybean farmers and exporters should know that USSEC is continuing to work on their behalf to build global demand and expand market access for U.S. Soy products in China and other markets."
"Today China announced a proposed 25 percent tax on U.S. soy imports into China," says USB Chair Lewis Bainbridge, a soybean farmer from Ethan, South Dakota. "I want to assure farmers that their soy checkoff will continue to invest in new market opportunities to build a portfolio of global demand for U.S. soy products."