Soybean Farmers React to Trade Deals

December 13, 2019 - 3:22pm

A phase one trade deal with China has Nebraska’s Soybean Association president cautiously optimistic.

President Trump announced the agreement with China on Friday morning. NPR’s Scott Horsley reports the deal suspends $160 billion of tariffs that were scheduled to go into effect this Sunday. The deal also drops September 1 tariffs on Chinese goods from 15% to 7.5%.

 “I’m optimistic," Nebraska Soybean Association president Robert Johnston said. "I think all soybean producers in the state and the nation have got to be optimistic. I think we still need to be cautious also.”

Johnston said he needs to be certain on the specifics of the deal before knowing how the phase one deal will affect soybean farmers long term.

Johnston also said he’s seen enough information to be hopeful on the USMCA deal. He said in part because Mexico is Nebraska’s number two market for soybeans exports and it's potential for dairy farmers. 



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