News

Actions

LSU Ag economist explains potential impacts of China tariffs on soybeans

Posted: 6:17 PM, Apr 06, 2018
Updated: 2018-04-06 19:17:43-04

The ongoing trade disputes between the Trump Administration and China are raising concerns for Louisiana soybean farmers, and economists say their anxiety is not unfounded. 

According to LSU Agricultural Center, there are 2,300 soybean producers in Louisiana.

It’s the state’s second highest earning export behind petroleum.

In 2017, soybeans earned about 680 million dollars in the state’s economy. 

China’s importing of Louisiana soybeans accounted for the majority of that revenue.

The vast Asian market absorbs about 57 percent of America’s soybean exports.  

"China is a major destination for American soybeans. And, any factor that could reduce our ability to send competitively-priced beans into that market has a price decreasing effect here at home because China is such a large buyer of American soybeans," explained LSU Agricultural Economics and Agribusiness Assistant Professor Dr. Michael Deliberto.

We talked with a soybean farmer in St. Landry Parish to get his thoughts on China’s potential tariffs on soybeans. Click here to watch.