The United States soya bean harvest is under way, and in rural Maryland, farmer Travis Hutchison cracks open a pod to show that the field is nearly dry enough for reaping.<\/p>\n
But a decent yield is not enough to secure his income this year, with China \u2013 once the biggest buyer of US soya bean exports \u2013 halting orders amid a trade dispute triggered by President Donald Trump\u2019s aggressive tariffs.<\/p>\n
Soya bean prices \u201care really depressed because of the trade war\u201d, Hutchison told the AFP news agency.<\/p>\n
\u201cI wasn\u2019t against the president trying it, because I think we needed better trade deals,\u201d added the 54-year-old of Trump\u2019s policies. \u201cI was hoping it would get resolved sooner.\u201d<\/p>\n
The world\u2019s second-biggest economy bought more than half of the $24.5bn US soya bean exports in 2024. But exports to China have fallen by more than 50 percent in value this year, as Chinese buyers have held off on new orders.<\/p>\n
Due to lower demand, soya bean prices are down about 40 percent from three years ago.<\/p>\n
After Trump slapped tariffs on Chinese products in his second presidency, Beijing\u2019s counter-duties on US soya beans have risen to 20 percent.<\/p>\n
This makes them \u201cprohibitively more expensive\u201d than exports from South America, where US farmers face growing competition, said the American Soybean Association (ASA).<\/p>\n
Last month, Argentina suspended its export tax on key crops like soya beans, making them more attractive to Chinese buyers.<\/p>\n
Trump pledged to tap tariff revenues to help US farmers but has not provided details.<\/p>\n