New tariffs are in effect in China today.
President Trump has added a 10 percent tariff to all imports. Overnight, China hit back with a 10-15 percent tax on all U.S. farm machinery, oil, coal, and liquid natural gas.
So far, the soybean market seems to be shrugging it off.
The tariffs take effect on February 10th.
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Despite tariffs having a less significant impact on exports, corn producers struggle with tariff-related increases on inputs, which complicates their bottom line.
