U.S. soybean farmers are facing a financial crisis as Chinese tariffs continue to block access to their largest export market just as the 2025 harvest season begins, according to the American Soybean Association.
In a letter delivered to the White House today, the ASA called on President Trump to prioritize soybeans in trade negotiations with China, specifically requesting the removal of retaliatory tariffs and commitments for future purchases.
"U.S. soybean farmers are standing at a trade and financial precipice," said ASA President Caleb Ragland, a Kentucky farmer. "Soybean farmers are under extreme financial stress. Prices continue to drop and at the same time our farmers are paying significantly more for inputs and equipment."
The organization also released a white paper detailing the financial consequences of losing long-term market share in what has historically been their primary export destination. China typically imports more than 60% of global soybean supplies.
The current 20% tariff premium on U.S. soybeans has pushed Chinese buyers toward Brazilian suppliers, who have expanded production to meet the increased demand.
"Every day without an agreement further erodes U.S. farmers' market share in China," Ragland warned. "We strongly urge the administration to secure a deal that reopens this vital market for U.S. soybeans."
