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“The consequences of tariffs placed on U.S. soybean imports to China would have short- and long-term consequences for American soybean farmers. Short term, the volley of proposed tariffs between the countries will negatively impact soybean prices. A study commissioned by the U.S. Soybean Export Council and conducted by Purdue University assessed potential outcomes if China imposed tariffs on soybeans ranging from 10 to 30 percent. It predicted an annual loss in U.S. economic well-being of between $1.7 billion and $3.3 billion, and that China would suffer similar losses. On the other hand, Brazil (the worlds second-largest soybean producer) would gain roughly $2.7 billion a year in economic well-being. As Americas second-largest soybean producer, this economic pain would be felt disproportionately by farmers in the Hawkeye State. Long-term, an ongoing trade dispute with China risks stoking anti-Americanism sentiment that could jeopardize the strength of trade relations between the two countries relationships that have taken U.S. soybean farmers nearly 35 years to develop.”