04/05/2018

Tariff Trade War Hitting Ohio Soybean Farmers

Last year, Ohio farmers exported nearly $700 million worth of soybeans to China

Representatives of the soybean industry assailed President Donald Trump today for launching a trade war with China that could cripple exports of soybeans by Ohio farmers. Just hours after China announced it was poised to impose a 25-percent tariff on soybean imports, the American Soybean Association said in a tart statement “it should surprise no one that China immediately retaliated against our most important exports, including soybeans.”

“We have been warning the administration and members of Congress that this would happen since the prospect for tariffs was raised,” the statement said.

Last year, Ohio farmers exported nearly $700 million worth of soybeans to China, according to the state of Ohio. Ohio farmers export about 60 percent of the soybeans they grow, meaning a trade war with China will hit them particularly hard.

“It has a potential to have a very negative impact on the soybean industry,” said Jennifer Coleman, a spokeswoman for the Ohio Soybean Council.

Please select this link to read the complete article from The Canton Repository.