The Biden administration hasn’t been majorly aggressive on trade this year, but the U.S. soybean industry hopes that changes going into 2022. With an increase demand for protein in Asia, American Soybean Association CEO Steve Censky says the U.S. soybean industry wants to continue to pursue new trade agreements and new markets. “I know that they wanted to focus on getting the economy back on track after COVID, but we’ll continue to message about soybean farmers dependent on growing export markets.” Even after the trade war, China is still a large buyer of U.S. soybeans. When it comes to follow through on the phase one trade deal purchase commitments for agriculture, Censky says China will fall short. “They’ve come the closest with their soybean purchase commitments, which is positive. No matter what, as this agreement comes to a close, it’s important for us to keep trade going.”
Subscribe to RRFN
Get a weekly digest from RRFN to stay up-to-date on all the latest news in agriculture.