Calling For End of China Trade Dispute
State Farm Bureau Presidents from the Midwest including Minnesota Farm Bureau President Kevin Paap are urging Secretary of Agriculture Sonny Perdue to work with President Trump to end the escalation of trade disputes with China. China is U.S. soybean farmers largest export market by far! Just in the last week we have seen big swings in soybean prices on the Chicago Board of Trade, both up and down depending on the potential of resolution or escalation of the trade dispute.
"China is critical market for Minnesota Agriculture, especially for soybeans, dairy, pork and wheat. The current trade disputes need to be resolved without harming agriculture," said Minnesota Farm Bureau President Kevin Paap. "Agriculture trade between China and Midwestern States amounted to just under $4.5 billion in 2017 alone." President Trump has told Secretary Perdue to develop a plan to provide monetary compensation to farmers and Ranchers who may be hurt by retaliatory measures taken by China in response to proposed U.S. tariffs on Chinese goods.