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China stops buying soybeans from U.S., Senator Grassley says “farmers are barely making ends meet”



This news story was published on May 5, 2018.
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NEW HARTFORD – Sen. Chuck Grassley of Iowa, a farmer who has received hundreds of thousands of dollars in subsidies, this week said farmers are “barely making” it as he reacted to reports of China halting all purchases of U.S. soybeans.

“Soybean farmers are my neighbors. Iowans who farm soybeans and other agricultural products form the backbone of Iowa’s economy. Soybean prices are low, and farmers are barely making ends meet. China is the largest consumer of U.S. soybeans, buying up nearly 60 percent of our soybean exports. If that market closes, it could be devastating for local communities across the Midwest. It’s also important to remember that when trade barriers go up, alternative sources of goods are found, and new trading relationships develop. A temporary setback could quickly develop into a permanent loss.

Grassley

“The U.S. must stand up to China’s unfair practices. But as I’ve said before, if the federal government takes action on trade that directly results in economic hardship for certain Americans, it has a responsibility to help those Americans and mitigate the damage it caused. In the short-term, the Administration should be prepared to take action to help farmers if they are harmed by price collapses related to retaliation. In the longer-term, the Administration should help find alternative foreign markets.

“I plan on continuing to work with my colleagues in Congress and with the Administration to address these issues.”

Grassley is chairman of the Senate Judiciary Committee, which has jurisdiction over patent, copyright and trademark policy, a senior member of the Senate Agriculture Committee and a senior member and former chairman of the Senate Finance Committee, which has jurisdiction over trade policy.

A report in the Des Moines Register last year says Grassley has cashed in on hundreds of thousands of dollars in farm subsidies.

Grassley’s April 4 statement regarding Chinese tariffs on U.S. commodities, including soybeans, can be found here.

An April 2018 Q&A with Grassley on U.S.-China trade relations can be found here.

A joint op-ed from Grassley and Sens. Steve Daines, David Perdue and Ron Johnson on their recent congressional delegation trip to China can be found here.

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7 Responses to China stops buying soybeans from U.S., Senator Grassley says “farmers are barely making ends meet”

  1. Anonymous Reply Report comment

    May 7, 2018 at 5:43 am

    Maybe farmer should have to work . No work no eat !

  2. Anonymous Reply Report comment

    May 7, 2018 at 1:27 am

    farmers are “barely making” it. with all the new houses out in the country, new pickup and wifes cadallic sitting in the driveway and dont forget about the 40 ft motorhome in the new shed, I can see why they barely make it

  3. Anonymous Reply Report comment

    May 6, 2018 at 8:23 am

    Maybe they will have to give up that new pickup every year, the airplane, the winter home in Florida, and start raising livestock again to make ends meet.

  4. Anonymous Reply Report comment

    May 6, 2018 at 8:18 am

    China most likely owns 25% of all soybean production as they do the meat industry in Iowa – This is BS from a rino we believe – all the while – doing everything they can to promote new chinese/foreign owned CAFO’s in Iowa that are poisoning our drinking water and waterways (750) so far – google it snowflakes. We believe the what ? 7-8 BILLION dollars in federal subsides to Iowa’s owned farmers will let them buy their new Winnebagers this spring.

  5. Anonymous Reply Report comment

    May 6, 2018 at 1:18 am

    In the short-term, the Administration should be prepared to take action to help farmers. Sounds like he is takin care of himself, farmers don’t have to worry, the government will step in and just make the subsidie checks bigger. My garden failed last year and I applied for a subsidie check and got turned down

  6. Anonymous Reply Report comment

    May 5, 2018 at 6:33 pm

    Grassley is knee deep in the SWAMP !!! Time 2 Go !!
    Term limits please … the founders never intended for the people of Congress to be in office that long !! That’s the #1 reason there is so much corruption

  7. Anonymous Reply Report comment

    May 5, 2018 at 5:19 pm

    M.A.g.A.