U.S. Soybean Farmers Fear China Will Retaliate for Steel Tariffs - WSJ - 0 views
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Farmers and grain traders are nervous that China might retaliate by slowing imports of U.S. beans or by erecting trade barriers to them. Chinese officials in February said they would investigate whether the U.S. subsidizes sorghum exports to the country after the Trump administration slapped tariffs on goods like solar panels that are manufactured by Chinese companies.
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the world’s largest soybean processor, said in February that he hoped tension between Washington and Beijing dies down. “It’s better that calm minds figure out good things,” he said. “There is a lot of noise and some disruptions in the supply chains coming out of the U.S.”
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U.S. farmers hoping to tap that market are growing more soybeans than ever. Many planted soybeans in fields long used for corn and wheat after prices for those grains dropped in recent years. Soybean acreage is on track to match corn this year for the first time in 35 years.
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