Soybean farmers are perhaps the most vulnerable to Chinese retaliation as nearly one in every three rows of soybeans grown in the U.S. is exported to China – valued at $14 billion every year. Already, soybean prices have dropped dramatically since China’s promise to slap a 25-percent tariff on U.S. soybeans, among other commodities and goods. Although China has a growing appetite for American agricultural products, its plan to retaliate on soy, beef and pork will have a damaging effect on Iowa’s farmers and the state’s economy.
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