Farms.com Home   News

American Soybean Association Tells Trump Administration Not to Mess with KORUS

American Soybean Association Tells Trump Administration Not to Mess with KORUS
 
In response to indications that the White House is preparing a withdrawal from the free trade agreement between the United States and South Korea as early as Tuesday, the American Soybean Association issued a stern warning that withdrawal from the pact, and the larger strategy of brinkmanship with regard to trade agreements by the White House, could have disastrous consequences for the nation's soybean farmers. ASA President Ron Moore issued a statement addressing the matter directly with President Donald Trump.
 
"Trade helps our country, Mr. President, and withdrawal from KORUS would hurt us all. As soybean farmers, we benefit greatly from exports, which contribute a $2 billion annual surplus to our nation’s balance of trade. Trade makes our local businesses and our communities stronger. Yet whether it's South Korea, Mexico and Canada, or our neighbors on the Pacific Rim, we once again find ourselves fighting to communicate the value of trade to farmers.
 
“With respect to South Korea, we supply nearly half of the 1.3 million tons of soybeans that country imports, with no tariffs as a result of the KORUS agreement. Most of Korea’s soybean imports, however, come from our competitors in Brazil and Argentina. If we withdraw, reinstatement of tariffs will make it hard to maintain our market share and will further increase our competitors’ advantage. And it would be devastating for our U.S. livestock customers who export meat products to South Korea.
Click here to see more...

Trending Video

Agronomy & Autonomy - Drone Solutions for Agriculture with Pegasus Robotics

Video: Agronomy & Autonomy - Drone Solutions for Agriculture with Pegasus Robotics

Pegasus Robotics walks us through drone solutions for agriculture.

The XAG P100 Pro can carry 110 pounds in its dry hopper and can fly at 31 miles per hour. Its wet tank can hold 13.5 gallons (50 liters).

Pegasus Robotics is the exclusive XAG P100 Pro distributor for North America.

Watch to learn more about these drones and how it can help you on the farm!