Since the talk of tariffs began in March, soybean prices have dropped more than $2 per bushel. In a statement, the American Soybean Association said soybean farmers will feel the full impact of this trade retaliation. China has added a 25 percent tariff on U.S. products, totaling $34 billion. From that total, soybeans represent more than 40 percent of the value on the products on China’s tariff list. Minnesota Soybean Growers Association President Michael Petefish agrees, saying no one wins “in a trade war.”
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