On July 6, China imposed a 25% tariff on U.S. soybean imports in retaliation for President Donald Trump's 25% tariff on $34 billion of Chinese goods. Since then, the trade war continues to escalate, leaving soybean farmers in Western states without a Pacific Northwest market at harvest.
If Congress does not pass a new farm bill by September 30, the 23 organizations that use government funds to promote purchases of U.S. commodities in foreign countries will face an immediate funding gap that could cause some of them to start letting staff go and closing overseas offices, a key farm lobbyist told The Hagstrom Report late Wednesday.
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