U.S. soy responds to proposed China tariff
In response to today’s announcement that China is proposing to tax U.S. soybean imports by 25 percent, according to the Chinese Ministry of Commerce, the American Soybean Association (ASA), the U.S. Soybean Export Council (USSEC) and the United Soybean Board (USB) release the following statements.
“ASA has consistently raised our significant concern since the prospect for tariffs was raised. Now this is no longer a hypothetical, and a 25 percent tariff on U.S. soybeans into China will have a devastating effect on every soybean farmer in America,” says ASA President John Heisdorffer. “We believe strongly that soy can help reduce our trade deficit by increasing competitiveness, and we will continue to work with our partners at USB and USSEC to show how that’s possible.”
“The U.S. Soy industry has a 36-year track record of actively investing and partnering in programs that support China’s goals of achieving sustainable food security and food safety,” says USSEC Chair Derek Haigwood, a soybean farmer from Newport, Arkansas. “U.S. soybean farmers and exporters should know that USSEC is continuing to work on their behalf to build global demand and expand market access for U.S. Soy products in China and other markets.”
“Today China announced a proposed 25 percent tax on U.S. soy imports into China,” says USB Chair Lewis Bainbridge, a soybean farmer from Ethan, South Dakota. “I want to assure farmers that their soy checkoff will continue to invest in new market opportunities to build a portfolio of global demand for U.S. soy products.”
The U.S. Soybean Export Council connects U.S. soybean farmers with opportunities to improve human nutrition, livestock production and aquaculture. This mission is accomplished with a science-based technical foundation and a global network of partnerships including soybean farmers, exporters, agribusiness and agricultural organizations, researchers and government agencies. USSEC operates internationally and works with aquaculture programs in different nations to help ensure sustainability and profitability for industry producers. USSEC programs are partially funded by the United Soybean Board.
USB’s 73 farmer-directors work on behalf of all U.S. soybean farmers to achieve maximum value for their soy checkoff investments. These volunteers invest and leverage checkoff funds in programs and partnerships to drive soybean innovation beyond the bushel and increase preference for U.S. soy. That preference is based on U.S. soybean meal and oil quality and the sustainability of U.S. soybean farmers. As stipulated in the federal Soybean Promotion, Research and Consumer Information Act, the USDA Agricultural Marketing Service has oversight responsibilities for USB and the soy checkoff.
ASA represents all U.S. soybean farmers on domestic and international issues of importance to the soybean industry. ASA’s advocacy efforts are made possible through voluntary farmer membership by farmers in 30 states where soybeans are grown. For more information on ASA, visit www.soygrowers.com.
Statement of Mike Naig, Iowa Secretary of Agriculture:
“China’s recent announcement of retaliatory tariffs on a number of U.S. agricultural products is concerning. Tariffs on pork products and ethanol went into place this Monday and China has announced additional duties on soybeans, corn and beef that could take effect in a couple of months.
“While there are real challenges in our trade relationship with China, Iowa agriculture stands to face a disproportionally negative impact as a result of efforts to correct these issues.
“These new trade barriers create additional hurdles to farmer profitability that has already been in decline for the last four years. As Iowa farmers get ready to enter the fields and plant their crops, the recent actions add to the economic uncertainty being felt across the state.
“The potential impact of these trade barriers on Iowa agriculture is dramatic. The U.S. exports $1.16 billion worth of pork products to China. One quarter of our state’s soybean crop goes to China.
“Our office has been coordinating with the Governor’s office and been in contact with USDA and the Iowa Congressional delegation to urge a swift resolution to this issue.”