News

U.S. soybean leaders share trade war concerns

The vice president of the American Soybean Association says the impact of Chinese tariffs on soybeans, in response to U.S. tariffs on Chinese imports, will affect soybean growers and rural communities for years to come. Davie Stephens, a soybean grower in Kentucky, says U.S. growers cannot afford to lose the biggest importer of U.S. soybeans in the world.

Derek Haigwood, an Arkansas farmer and chairman of the U.S. Soybean Export Council, says the council is “actively working to minimize the impact” on U.S. farmers and the U.S. soy industry by making sure customers understand the value of U.S. soy.

And, United Soybean Board Chairman Lewis Bainbridge, a South Dakota farmer, says the checkoff continues to focus on market diversification for beans – keeping “current and potential soy users informed about the benefits of U.S. soy.”

The joint statement was released Monday in response to China’s threatened 25% tariff on U.S. soybean imports announced Friday.