ASA Statement on Canceled U.S.-China Meeting and Rising Trade Tensions

The American Soybean Association today expressed concern following reports that President Trump has canceled his planned meeting with Chinese President Xi amid escalating trade tensions over rare earth mineral restrictions. ASA President Caleb Ragland, a soybean farmer from Magnolia, KY, issued the following statement: “ASA is extremely disappointed that the planned meeting at the end of the month between President Trump and Chinese President Xi is canceled as of right now due to the recent actions of the Chinese government to further restrict access to rare earth minerals. ASA was hopeful that these upcoming talks between the United States and China would lead to a deal that would restore U.S. soybean exports to China, traditionally soybean farmers’ largest export by far. Trade wars are harmful to everyone, and these latest developments are deeply disappointing at a moment when soybean farmers are facing an ever-growing financial crisis. ASA hopes that talks can be put back on track to restore markets and trade relationships.”