LITTLE ROCK, Ark. (AP) _ Farmers say President Donald Trump’s plans to place
tariffs on more Chinese goods are worsening a situation for Arkansas’ soybean
producers.
The Arkansas Democrat-Gazette reports that Trump announced Monday he’d place 10
percent tariffs on another $200 billion in Chinese goods bought in the U.S.
Arkansas Farm Bureau President Randy Veach says Trump’s threat and China’s
promise to retaliate has almost immediately affected soybean prices, which
slumped to $8.89 a bushel at closing Tuesday.
The U.S. Department of Agriculture says Arkansas farmers harvested 3.5 million
acres (1.4 million hectares) of soybeans last year, collecting 178.5 million
bushels. The crop had a market value of $1.74 billion at $9.75 a bushel, placing
Arkansas 11th among soybean-producing states. The state exports about 40 percent
of its soybeans, most going to China.
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