Reference News Network, October 22 report - According to RIA Novosti, October 21 report, U.S. soybean farmers have urged President Trump to quickly end the trade dispute with China.
Iowa farmer Morrie Hill said that trade with China, Russia and other countries will help the U.S. agricultural sector overcome the difficulties it is currently facing.
Regarding the impact of tariffs on U.S. farmers, Hill pointed out that his hometown's warehouses are full of high-quality soybeans that urgently need to be sold. At the same time, farmers need to pay bills and maintain their livelihoods.
He emphasized: "At present, measures must be taken as soon as possible to address the core issues faced by soybean growers, including restoring exports of soybeans to major trading partners."
Jamie Bair, a member of the board of the American Soybean Association from Minnesota, said: "Our association members call on the government to reach an agreement with China to eliminate U.S. trade concerns."
Paul Mitchell, a scholar at the University of Wisconsin, said that tariffs force farmers to buy production materials at higher prices while selling their products at lower prices.
He said: "For example, metal tariffs have increased the cost of agricultural equipment, even if these machines are made in the United States, because the price of steel has risen. In addition, some imported agricultural equipment needs to pay more tariffs, and many agricultural chemicals are also like this."
Mitchell is worried that if the situation does not improve, farmers may find it difficult to repay loans. This could lead to loan restructuring, early sale of assets, or even farm bankruptcies. (Translated by Ge Xuele)
October 10, at a grain dealer in Queen Anne's City, Maryland, USA, soybean farmer Travis Haggerson unloads cargo from his own truck. (AFP)
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