The Wisconsin Soybean Association, a non-partisan organization, is extremely concerned for the state’s farm economy after President Trump declared the U.S. trade deficit a national emergency and slapped tariffs on many of U.S. soy’s largest trading partners.  

“Our soybean farmers are already struggling. Crop prices are down over 40% over the past two years, and the president’s decision is already negatively impacting our producers,” said Doug Rebout, president of the Wisconsin Soybean Association. “Wisconsin’s ag economy, our local economy – and to a larger extent, our entire state’s economy – thrives thanks to our relationships with international trade partners.”  

Wisconsin farmers produce about $1.3 billion of soybeans each year; most of the state’s soybean crop is exported to markets in China, Canada and Mexico. In total, Wisconsin exports an average of nearly $4 billion in ag and food products to 142 countries. Since 2021, the state’s dairy, meat and crop exports have grown by $210 million.  

In the 2023/2024 marketing year, U.S. exporters shipped 46.1 million metric tons (MMT) of soybeans to foreign markets, accounting for nearly $24 billion in sales. During the 2018-2019 trade war with China, U.S. agriculture experienced over $27 billion in losses, with soybeans comprising 71% of those losses. The nation’s half-million soybean farmers continue to struggle with long-term reputational impacts, as the markets they invested years in building – over 40 years for China – are grounded in being able to supply a reliable, quality crop. 

The American Soybean Association is urging the administration to pursue agreements with priority countries before the reciprocal tariffs go into effect to open market opportunities for U.S. agriculture and minimize the potential for immediate retaliation. ASA also urges the administration to quickly attempt to reach a Phase Two agreement with China that addresses U.S. trade concerns and avoids U.S. agriculture suffering through a prolonged trade war. 

“We’ve seen that trade wars only do long-lasting damage to those relationships, and we are engaged with the administration to continue negotiations on these tariff policies,” said Wisconsin farmer Tanner Johnson, who sits on the American Soybean Association Executive Committee. “Economies across Wisconsin and the nation, both rural and urban, depend on agriculture to sustain their communities, and a trade war throws everything into flux. Simply put, the uncertainty is making it a stressful time in farm country right now, just as we’re preparing to put our 2025 crop in the ground.”