MADISON, Wis. (WRN) — Wisconsin soybean farmers are struggling to find buyers as tariffs with China continue to stymie the market.
A statement from the non-partisan Wisconsin Soybean Association says the organization is extremely concerned for the state’s farm economy after President Trump declared the U.S. trade deficit a national emergency and slapped tariffs on many of the US’s largest trading partners.
Wisconsin farmers typically grow around $1.3 billion worth of soybeans a year, with two thirds of that exported. China has refused to buy any US grown soybeans this year due to the tariffs. A similar situation arose during Trump’s first term when a looming trade war with China cost the agricultural industry $27 billion in losses.
The American Soybean Association is urging the President to work out a deal with China before farmers again see major losses.