Trade War Could Spell Trouble for Missouri Farmers

The MOFB says a recent study shows the Chinese tariffs could cut U.S. soybean exports by 40 percent costing the U.S. economy more than three billion dollars.

Posted: Apr. 9, 2018 2:39 PM
Updated: Apr. 9, 2018 2:39 PM

(ST. JOSEPH, Mo.) The recent trade war between the U.S. and China could spell trouble for Missouri farmers.

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Beijing and Washington have threatened to raise tariffs on $50 billion worth of each other's goods. President Trump said the U.S. list might be increased by an additional $100 billion of goods, which prompted China's government to say it would "counterattack with great strength."

According to the Missouri Farm Bureau, Missouri is one of the leading states in the county that produces goods like soybeans, corn and beef with China buying nearly two-thirds of all U.S. soybeans exported.

"One out of every three rows of soybeans raised in the state of Missouri go to China," said Buchanan County MOFB board member Vernon Hart. "China makes up 66 percent of our total soybean imports across the whole United States."

The MOFB says a recent study shows the Chinese tariffs could cut U.S. soybean exports by 40 percent costing the U.S. economy more than three billion dollars.

The Trump Administration's tariffs take effect in 60 days.

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