Trump is ruining farmers

China Bought $12.6 Billion in U.S. Soybeans Last Year. Now, It’s $0.

China stopped buying soybeans from America in May, placing a retaliatory tariff on the bumper crop after President Trump increased levies on goods from China.

Already, the consequences are stacking up for American farmers. On Monday, the Trump administration pledged to support Argentina as it faces economic turmoil. The same day, Argentina suspended its tax on exports of a number of key crops, including soybeans. Shortly thereafter, Chinese companies bought more than one million tons of Argentine soybeans, according to Reuters, increasing the nation’s ability to hold out from buying the crop from America.

The real worry, though, is what is to come.Soybean prices have been subdued, trading at around $10 a bushel for much of the past year, down from around $13 at the start of 2024.