Soy leaders are keeping a close watch on tariff action out of the White House. China is a major buyer of U.S. soybeans, and economists warn the situation could quickly heat up.
“They dominate the global oil seed market and they import more than the rest of the world combined. And in 2018, when those Section 301 retaliatory tariffs went into place, we saw prices drop overnight by $2.00 a bushel and our market share evaporate. You know, USDA’s Economic Research Service put out a study assessing the economic damages done to us as a result of the trade. It showed $27 billion in losses for U.S. ag, and of that amount, our soybeans accounted for 71%,” said Virginia Houston.
President Trump has given both Canada and Mexico a February 1st start date for tariffs. Some ag leaders have warned the plan could backfire, while others support the move as an effort to boost U.S. trade.
RFD NEWS Correspondent Frank McCaffrey was in Mission, Texas, where state and federal officials addressed growers and producers at a round table event hosted at a citrus grower’s facility. He shows us how welcome news was all around.
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New Holland VP Ryan Schaefer shares insights into the brand’s legacy and innovations that support U.S. cattle producers.
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Federal assistance has helped, but the most recent row-crop losses remain on producers’ balance sheets.
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OOIDA’s Lewie Pugh discusses the EPA’s new Right to Repair guidance and other regulatory developments impacting the trucking and agriculture industries.
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Tyler Schuster is an ag industry advocate who mentors and supports the next generation, especially women finding their place in the cattle industry.
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