The American Soybean Association recently submitted comments on the Section 301 tariffs to the United States Trade Representative during the 30-day open comment period.
As part of its comments, the American Soybean Association told USTR that the tariffs have already created uncertainty in the marketplace and threaten the long-standing work of the U.S. soy industry to establish and expand foreign markets for U.S. soybeans. ASA asked USTR and the Trump administration to “reconsider the Section 301 tariffs and allow soybean farmers to be part of the solution instead of collateral damage from a potential trade war.”
USTR recently initiated an investigation under Section 301 of the Trade Act of 1974 into the government of China’s acts, policies, and practices related to technology transfer, intellectual property, and innovation.
A slew of tit-for-tat tariffs between the U.S. and China include a 25 percent tariff on soybean imports into China.