The American Soybean Association (ASA) recently submitted comments on the Section 301 tariffs to the United States Trade Representative (USTR) during its 30-day open comment period.
ASA’s comments highlighted concerns for soy growers, as the Chinese government has indicated it will retaliate against the tariffs proposed under Section 301 by imposing a 25 percent tariff on imports of U.S. soybeans. The proposed tariffs have already created uncertainty in the marketplace and threaten the long-standing work of the U.S. soy industry to establish and expand foreign markets for U.S. soybeans.
“As producers of the Nation's number one agricultural export, soybean farmers want to be an essential part of helping lower our trade deficit with China. We believe that expanding market access can play a vital role in increasing our agricultural trade surplus,” ASA said in the comments. “We ask USTR and the Administration to reconsider the Section 301 tariffs and allow soybean farmers be part of the solution instead of collateral damage from a potential trade war.”