Experts say livelihoods are at stake for farmers after China retaliated against U.S. tariffs by purchasing its soybeans from other countries.

Cincinnati

U.S. tariffs on Chinese exports spiked to 135%, prompting China to halt purchases of U.S. soybeans and seek alternative suppliers in South America. This shift has led to a significant drop in demand and profits for Ohio farmers, who now face increased competition and uncertainty about the future of their livelihoods. 

Experts note that while tariffs have since decreased from their peak, trade tensions remain high, and there is little optimism for immediate relief. The ongoing dispute not only threatens farmers' incomes but could also have broader negative effects on Ohio's economy.

U.S. tariffs on Chinese exports spiked to 135%

A trade war between the United States and China is being felt by Ohio farmers like Dale Settlemyer in Clarksville. Our border trade price is less because demand has been reduced. In April, U.S. tariffs on Chinese exports spiked to 135%. In retaliation, China has quit buying soybeans from the United States. According to the Ohio Soybean Association, China is the top buyer of U.S. soybeans by a wide margin. But now China is buying soybeans from other countries like Brazil and Argentina. They can go to South America and buy soybeans and pay 30% less which is a considerable percentage. Settlemyer says he's concerned. With South American countries continuing to build their infrastructure, China could decide. They won't need us and it will be cheaper for them because they can get to the west coast and that's a direct shot to China. Settlemyer says they're still selling their product to other countries, but their profits have taken a significant hit. I wanted to learn more about the broader impact this trade war has on Ohioans. So I went to Professor Darren Wilson at Northern Kentucky University. By now, historically, China would have already placed orders for those soybeans and as of today they have yet to do so. Tariffs have come down from their peak. According to the Peterson Institute for International Economics, as of late August, China had roughly 32% tariffs placed on American goods, while the U.S. had nearly 58% tariffs on Chinese goods. But Wilson says trade talks aren't looking promising. There's not going to be relief for farmers anytime soon. He tells me it's raising anxieties for farmers. And to some extent, if this is a long-term problem, really put soybean farmers' livelihoods at stake. And it's not just farmers. Wilson says it could make a significant impact on the revenue the state gets. It's really going to negatively impact just everyday people of Ohio. Hopefully we can figure out a way to work together instead of working against each other. In Clarksville, Alex Knoll, WCPO 9 News.

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Breakdown