U.S. soybean farmers are warning that new trade actions could worsen already difficult economic conditions. That’s according to testimony from the American Soybean Association before federal trade officials. ASA Vice President Dave Walton told the Office of the U.S. Trade Representative that exports remain critical to the industry, with 68.7 million metric tons of soy products shipped during the 2024-25 marketing year, valued at nearly $30 billion. “Soybeans are the largest ag export in the U.S., and robust trade is a top priority for our industry,” Walton said.
He cautioned that new tariffs or trade disruptions, particularly involving China, could reverse progress made since the 2018 trade dispute, when soybean export values to China dropped sharply. Farmers are already facing an estimated $117 per acre loss alongside high input costs. ASA is urging policymakers to pursue targeted trade remedies and protect key export markets to maintain stability for U.S. producers.
-NAFB