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ASA president seeks Trump meeting on retaliation concerns

The president of the American Soybean Association is asking President Trump to modify or reverse his decision on steel and aluminum import tariffs and has requested a meeting with him. Iowa farmer John Heisdorffer said in a letter to Trump that the potential for trade retaliation by China is very serious and that U.S. soybeans have made significant contributions to the nation’s trade balance.

Jim Miller of Belden, Nebraska, immediate past chairman of the U.S. Soybean Export Council, tells Brownfield the threat of Chinese retaliation is real, “In September, I was told by the (Chinese) Ministry of Commerce and the Ministry of Ag that they – it would cause retaliation against soybeans if we put tariffs on the Chinese steel and aluminum.”

Although many other countries could be impacted by the tariffs, analysts say China is the main target. China has repeatedly vowed to defend its interests if targeted by U.S. trade actions. China has become the largest customer of U.S. soybeans, far surpassing other countries.

Heisdorffer also says in his message to Trump it is incorrect to assume that whatever market share the U.S. loses to South American competitors like Brazil can be made up with sales to other markets.

AUDIO with Jim Miller~