Impact Of New Chinese Tariffs On Illinois Soybean Industry
The Chinese Ministry of Commerce announced Wednesday that it plans to impose a 25 percent tariff on $50 billion worth of American exports, targeting more than 100 products like pork and soybeans. The new tariffs are a direct response to the Trump administration’s newly announced trade policy that hits $50 billion worth of Chinese exports with 25 percent tariffs. Illinois is the number one soybean producer in America, and one out of every three soybeans grown in America is exported to China. Joining us to discuss the impact of these tariffs on the local soybean industry is Adam Nielsen of the Illinois Farm Bureau and Doug Yontz, a soybean farmer outside Peoria.