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China’s Proposed Tariffs Could Mean Trouble for Missouri Farmers

Almost all American soybeans are grown from genetically modified seeds, which are generally banned in Europe.
Kevin Dooley
/
Flickr
Almost all American soybeans are grown from genetically modified seeds, which are generally banned in Europe.

Following President Trump’s tweets on trade policies, China responded Tuesday with its own planned taxes on U.S. imports. China plans to tax American airplanes, automobiles and soybeans at a rate of 25 percent.

Soybeans were one of Missouri’s top commodities in 2017 and accounted for over $1 billion in revenue.

Dylan Wittman farms soybeans in Tipton, Mo. He says soybeans are easy to grow and sell quickly.

“[Soybeans are] one of the more common crops grown around this area, and it has been more profitable than some other crops in the most recent years. And [the] climate's fairly well suitable,” Wittman said.

Mary Sobba, an agriculture business specialist at MU Extension, says that it’s hard to gauge the impact of a fall in the exportation of soybeans on Missouri’s economy, but she does speculate that the price of a bushel of soybeans would fall.