In the Press
Local soybean farmers are watching warily to see if they'll be caught in the crossfire of a U.S.-China trade war.
Blooms bring to mind the emerging beauty of spring—flowers blossoming and trees regaining their splendor. Harmful algal blooms (HABs), however, bring to mind a toxic blue-green body of water and possibly a creature from the deep. These blooms, unlike spring flowers, are odorous, unpleasant, and potentially toxic. They can turn a fresh fish sandwich into a trip to the emergency room. They deter families from engaging in water-related recreational activities such as going to the shore.
The Trump Administration tariffs on China went into effect overnight Friday. The tariffs were placed on about $34 billion worth of Chinese imports. The president said it's to punish China for stealing US technology and narrow the trade deficit but the escalating trade war may end up hurting Ohio more than most.
New tariffs start today on U.S. soybeans imported to China, but Ohio farmers have already been feeling the pinch.
Farmers in Ohio, one of the states that helped push Donald Trump to victory in the 2016 election, are going to be hit very hard as the president follows through with new tariffs on China, according to a new Ohio State University analysis.
On May 18 the draft 2018 Farm Bill failed on the House floor with a lack of votes from Democrats and several moderate Republicans.
A numbers rundown: Ben Brown, manager of the College of Food, Agricultural, and Environmental Sciences at Ohio State University, helped publish a study in May predicting that Ohio farmers would lose 59 percent of their income if a 25 percent tariff were imposed on U.S. soybeans.
Ohio corn and soybean farmers could be dealt a devastating blow if China imposes tariffs on U.S. imports.
USDA estimates that 75% of the U.S. soybean crop is good or excellent condition which is above our five-year trend.
As the possibility of a trade war between the United States and Canada becomes increasingly plausible, Ohio is uniquely positioned to be a casualty.