China recently announced retaliatory tariffs against the U.S.
Beginning April 10th, China will impose a 34 percent tariff on all U.S. goods, the same amount as President Trump’s reciprocal tariffs announced this week.
Today, President Trump made the announcement that the U.S. will impose more tariffs if China does not back down on Truth Social.
“If China does not withdraw its 34% increase above their already long-term trading abuses by tomorrow, April 8th, 2025, the United States will impose additional tariffs on China of 50%, effective April 9th.”
China plans to enact export controls on a number of materials used to make semiconductors.
Related Stories
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.
Farmers face tighter barge capacity and higher freight costs during peak harvest.
