Soy farmers voice concerns on China trade relations to house ag committee

USAgNet - 03/21/2024

The American Soybean Association (ASA) President, Josh Gackle, recently addressed the U.S. House of Representatives’ Committee on Agriculture, shedding light on the challenges faced by U.S. soybean farmers due to the ongoing impacts of the 2018 trade war with China.

The war, marked by reciprocal tariffs, has left scars on the U.S. soy industry, with a significant loss in market share and export value. Despite these challenges, Gackle emphasized the critical need for the U.S. to maintain and protect its economic and trade interests with China, considering the country's vital role in U.S. soy exports.

In 2022/2023, soybeans emerged as the top agricultural export of the U.S., with China being the largest market, showcasing the profound dependence on this trade relationship. The trade war had placed U.S. soybeans at a disadvantage, benefiting competitors like Brazil and jeopardizing the U.S. position as a reliable supplier in the global market.

Gackle’s testimony highlighted the need for a balanced approach to address national security and trade interests, urging Congress to reject any legislative attempts that could harm the U.S.-China trade relationship. He advocated for a comprehensive farm bill in 2024 and stressed the importance of reengaging in trade negotiations to ensure long-term market access and stability for U.S. soybean growers. This call to action underscores the crucial role of diplomatic and trade policies in securing the future of U.S. agriculture in the global market.

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