US President Donald Trump took a pessimistic view of talks with President Jean-Claude set for Wednesday aimed at averting a trade war.
The move has MI soybean farmers on edge, anxious about an escalating trade war.
The American investigative news agency Mother Jones points out that American soybeans account for about 1/3 of the total imports of the European Union.
John Heisdorffer is a farmer and president of the American Soybean Association, and acknowledged farmers' anxieties.
Over the past six months, President Trump has imposed significant new tariffs on USA imports. Altogether, the president's proposed tariffs could increase nationwide consumer costs by almost $40 billion annually.
Farmers hit with dropping prices for crops and livestock in retaliation for USA tariffs received word the Trump administration has put together a $12 billion aid package. "Yes, it's a help, but it gets a long ways from taking care of the problems over the loss that we incurred". Big Ag companies have mastered the process of using this oversupply to pit farmers in the USA against farmers in other countries, driving prices down in a race to the bottom that only benefits the companies' bottom lines. "It hurts the family farm, it hurts agriculture, it hurts the state industry".More news: Epic Will Keep Fortnite Off Google's Store to Make More Money
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This emphasis on overproduction isn't an accident - it's the result of decades of corporate influence over our farm policy that means that farmers sell into corporate-controlled markets that don't have enough competition to ensure they can get a fair price.
Finally! Some good news on the soybean front.
Market analysts said the surge was caused by plunging prices in June, as China largely stopped buying US soybeans in retaliation for trade measures that Trump has targeted at Beijing.
"I think the talks and certainly our USTR representative, Ambassador Lighthizer definitely plan to make agriculture a topic within these discussions that are going forward", Perdue said.
And an endless search for export markets, with several decades of trade deals created to ease the flow of US corn, soy, wheat and meat to other countries, often at such a low price that farmers in those countries can't survive the influx.