BEIJING (AP) — Soybean farmers are growing frustrated by the lack of progress in trade talks between the U.S. and China.
In a prepared statement Monday, the American Soybean Association said the U.S. has met with Beijing 11 times with no deal being reached. Davie Stephens, a soybean grower from Kentucky and president of the ASA, said, "What that means for soybean growers is that we're losing. Losing a valuable market, losing stable pricing, losing an opportunity to support our families and our communities."
John Heisdorffer, ASA chairman and a soy grower in Iowa, said the industry cannot withstand another year. He says, "The sentiment out in farm country is getting grimmer by the day. Our patience is waning, our finances are suffering, and the stress from months of living with the consequences of these tariffs is mounting."
Last July, Trump began gradually slapping tariffs on Chinese imports. The United States now is imposing 10% taxes on $200 billion in Chinese products and 25% on another $50 billion. Beijing has counterpunched by targeting $110 billion worth of American imports, focusing on farm products such as soybeans in a deliberate effort to inflict pain on Trump supporters in the U.S. heartland.