Today, ASA in partnership with state affiliates, growers and other ag groups are taking to Twitter to share the message that growers and rural America need trade, not tariffs.
The White House has declared that by June 15 it would announce its final list of $50 billion in Chinese products that would be subject to 25 percent tariffs under Section 301 of the Trade Act of 1974. In response, China’s Commerce Department announced several months ago that it would impose retaliatory tariffs on 106 U.S. goods amounting to roughly $50 billion in imports, including a 25 percent tariff on imports of U.S. soybeans.
Why does this matter?
- Soybeans are America’s leading agricultural export, with sales of $27 billion last year.
- China is the top market for U.S. soybeans, accounting for $14 billion in sales, 61% of total exports and nearly 1/3 of total U.S. soybean production in 2017.
- 61% of the U.S. soy crop is exported annually.
U.S. soybean growers depend on exports, and during the current down farm economy growers, and the rural communities that depend on them, can’t afford to lose vital and robust markets in China.
Join ASA and other groups on Twitter today calling for #TradeNotTariffs.