Midwest Farmers Have Trump to Thank for Their Latest Export Woes
- China plans to impose 25 percent duty on U.S. soybean imports
- Move comes as U.S. farm income is forecast at 12-year low
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Thanks to President Donald Trump, China just dealt U.S. farmers their latest blow.
The Asian country said Wednesday it plans to impose 25 percent duties on soybeans and other U.S. farm goods including wheat, corn, cotton, sorghum, tobacco and beef. The move comes in retaliation to proposed American duties on its high-tech goods. China is the largest buyer of American soybeans, with the trade worth about $14 billion annually.