While cotton and pork producers in the United States have been struggling to maintain profits amid the ongoing US-China trade war, soybean farmers have become a focus of attention.
That’s because soybeans were among the products on China’s list for a 25 per cent tariff imposed since July 2018, not long before prices for the crop hit a 10-year low on May 13, 2019.
US President Donald Trump has announced that the government would buy US$15 billion worth of crops to help the farm sector, but many farmers their only realistic hope of survival is to be able to regain their lucrative China market.
