"It's tough when you lose 25% of your market suddenly. And that's the reality of the trade board and the retaliatory tariffs that have came from China against our soybeans. Soybeans are America's largest agriculture export. We do a great job producing them and the world uses a lot of soy. China is the largest user. They use 61% of all soy consumed around the world."
"And here in this marketing year, the soybeans are being harvested. We have not sold a single bean to China, and normally they would be purchasing robustly right now, right in the middle of our harvest season. Ragland praised some Trump policies, but argued there needs to be a balance on trade. President Trump's done some good things with some tax policy, with regulatory policy on some issues."
"I think we're at a crossroads that if we don't get some things moving soon and get some serious trade taking place, we're going to need a financial bridge or the reality will be the increases in bankruptcies, the loss of many thousands of family farms. It will even be worse with people committing suicide, choosing to end it all. And it's terrible, the things that will result."
Thousands of farms could fail if the president's trade war continues. Tariffs and retaliatory tariffs from China have halted the soybean market, eliminating roughly 25% of market access. Soybeans are the largest U.S. agricultural export, with China consuming about 61% of global soy usage, and no soy has been sold to China in the current marketing year. Some recent policies—tax changes, regulatory rollbacks, and biofuels support—provide benefits, but trade balance remains essential. A $20 billion bailout to Argentina and proposals to buy Argentine beef drew criticism. Without a financial bridge and renewed trade, bankruptcies, family farm losses, and suicides could rise.
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