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Ohio Soybean Group Blasts Tariffs on China

Organization says the collateral damage in this trade war will include all Ohioans

The Ohio Soybean Association says the Trump Administration’s decision to impose a 25 percent tariff on $50 billion in Chinese products, which China plans to retaliate with 25 percent tariff on imported U.S. soybeans, will greatly reduce farm income.

China purchases 61 percent of total U.S. soybean exports and more than 30 percent of overall U.S. soybean production, according to the association. U.S. Customs and Border Protection will begin collecting additional duties on designated Chinese goods July 6. 

“We should address our trade challenges by increasing our competitiveness, not creating new barriers,” said Allen Armstrong, president of the Ohio Soybean Association and a farmer in Clark County. “Exports have been one of the few bright spots for farmers in recent years, and we can’t afford another hit to the bottom line.”

Please select this link to read the complete article from The Business Journal.

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