The US Soybean Association wrote to Trump: The trade war with China has put farmers on the brink of financial ruin

American soybean farmers are on the brink of a “trade and financial precipice” and can ill afford a prolonged trade war with China. Caleb Ragland, president of the American Soybean Association, issued a warning in a letter to President Trump. He urged the administration to reach an agreement with China to remove tariffs and facilitate large-scale soybean purchases as much as possible. “American soybean farmers cannot afford a prolonged trade dispute with our largest customer, and soybean farmers are under tremendous financial pressure,” Ragland’s letter said. “Prices continue to fall, while at the same time, our farmers are paying significantly more for inputs and equipment.” The White House did not immediately respond to a request for comment. China has not yet purchased a single shipload of soybeans for the upcoming harvest, which begins in September. According to an analysis submitted to the U.S. government by the association along with the letter, in previous years, China has ordered an average of 14% of its estimated purchases from the United States before the harvest began. Ragland noted that U.S. sales to other countries have not been enough to make up the difference, adding that tariffs have made American soybeans less competitive than their Brazilian counterparts.