Earlier this week, Iowa Senator Chuck Grassley says he’s encouraged by the trade deals President Trump had been making during his Asian tour, but it was unclear if there would be an agreement reached with China to buy American products, especially soybeans.
China had been the biggest customer of that crop, but halted all purchases earlier this year in retaliation for Trump’s tariffs.
Floyd County farmer Gordon Boge says producers just want a market to sell their goods.
Boge says farmers have been paying the price on the other end as well.
Grassley says, “It would still give a great morale boost to farmers if they knew that China is going to be back in the market for our soybeans. Now, exactly when those first soybeans start flowing to China, I can’t give you a date on that.”
Grassley also couldn’t say if a deal with the Chinese this late in the year would be too little, too late for Iowa soybean growers.
UPDATE: Thursday (10.30), U.S. officials reported that China has pledged to return its purchases of U.S. soybeans to regular levels in each of the next three years, that according to Treasury Secretary Scott Bessent.
A few weeks ago, the president talked about offering farmers impacted by retaliatory tariffs several billion dollars in relief, but that potential aid package is on hold due to the federal government shutdown.
