U.S. Trade Representative Jamieson Greer has years of trade experience under his belt. He says the goal is to make trade fair again and blames tariff and non-tariff barriers.
“We only charge a 2.5 percent tariff on ethanol, but Brazil charges us an 18 percent tariff. The result: we have a large trade deficit in ethanol with Brazil. Our average tariff on agricultural goods is five percent, but India’s average tariff is 39 percent. Last year, I think we imported about three billion dollars’ worth of Australian beef, and we exported zero dollars of American beef to Australia.”
Ag Secretary Brooke Rollins has said the ag trade deficit will soar to nearly $50 billion this year.
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“A government shutdown impacts all Americans and has serious consequences, including for farmers. It just adds additional uncertainty, disrupts critical services.”
Agricultural exports continue to be a key contributor to rural employment. However, rural businesses still struggle to fill numerous job openings.
Treasury Secretary Scott Bessent stated this week that the government will intervene to help, following China’s withdrawal from the U.S. soybean market. One trader says the industry will remain in a holding pattern until Tuesday.
University of Illinois Ag Economist Gary Schnitker says early projections indicate soybeans will be more profitable than corn in 2026.
“In the first six months of 2025, 181 Chapter 12 bankruptcies were filed nationwide.”
Trump’s upcoming talks raise hopes for U.S. soybeans, but China’s record purchases from Brazil and Argentina show America’s market share remains under heavy pressure.
