90-Day Pause Seen as a Trade Reset Opportunity

The American Soybean Association sees the decision to lower tariffs between the U.S. and China for 90 days as a chance to rebuild a market that has not fully recovered from the previous trade war. ASA President Caleb Ragland said the development is a step in the right direction. “I think it’s a very positive first step in us getting to the table and hammering out some important details that can be really good for soybean trade in particular, agriculture, our rural communities and our country as a whole.” Ragland emphasized that past tensions have had a lingering impact on soybean exports. “Before the first trade war, one out of every three rows of U.S. soybeans went to China,” said Ragland. “In the last trade year, about 25 percent of U.S. soybeans were going to China, so one out of four rows. We were gaining back, but we’ve never fully gotten the market share we had in the past.”