September 27, 2025

US farmers, especially those growing soybeans, are feeling the pinch big time. President Donald Trump, who has long claimed farmers as his strong supporters, now sees many of them feeling betrayed. Why? Because his tariffs and trade moves are forcing China to buy soybeans from other countries, while American farmers watch helplessly. In a surprising twist, the Trump administration is backing Argentina with a giant $20 billion financial deal. Treasury Secretary Scott Bessent revealed talks with Argentina’s President Javier Milei, leading to a $20 billion swap line between the US and Argentina’s central bank. At the same time, Argentina dropped its export taxes on soybeans. This smart move made Argentine soybeans super attractive in the global market. Soon after, China ordered at least 10 big cargoes of Argentina’s soybeans, reported Reuters. This is a big blow for American farmers who have been blocked from the Chinese market since May because of US tariffs. The USDA’s weekly reports show China has not bought any US soybeans since then. Caleb Ragland, president of the American Soybean Association, voiced farmers' pain: “The frustration is overwhelming.” He added, “U.S. soybean prices are falling, harvest is underway, and farmers read headlines not about securing a trade agreement with China, but that the U.S. government is extending $200 billion in economic support to Argentina while that country drops its soybean export taxes to sell 20 shiploads of Argentine soybeans to China in just two days.” his statement was quoted by Fortune. Soybeans still matter a lot to the US economy. They bring in $46.8 billion and make up nearly 20% of crop receipts in 2024. Usually, about a quarter of US soybeans go to China. But thanks to tariffs as high as 34%, American soybeans have become too pricey for China. Meanwhile, Brazil and Argentina are grabbing the chance to rise. Brazil alone supplied 71% of China's soybean imports last year, compared to just 2% thirty years ago. The hard truth hits farmers in the Midwest hard. In Minnesota and the Dakotas, soybeans are piling up because China stopped buying. Prices have dropped nearly 40% since 2022. Growers are either selling at big losses or storing their crops and hoping for better days. Kyle Jore, an economist and farmer in Minnesota, said, “We’re probably just going to plan to sit on the soybeans and wait.” He also warned, “In the meantime, though, the producers that sell are taking large losses. And they’re going to have to feel those losses.” The damage doesn’t stop at farms. Rural communities dependent on farming face tough times. Ryan Loy, assistant professor at the University of Arkansas, explained, “If farms in those rural communities aren’t successful, if they face financial hardships, then those rural communities also suffer, too.” He added, “All of these rural communities rely on agriculture to some degree. In its most extreme, if farms close up and businesses no longer have the customers there—or at least the customers don’t have the money to support them—businesses close and people move out.” This shows how deep the crisis could run. So why are US farmers upset with Trump’s trade policies? Because while the US government supports Argentina financially, American farmers are losing ground as China buys soybeans from Argentina and Brazil. The big question remains—when will US soybeans again find a place on China’s dinner table? For now, American farmers wait and watch, hoping for relief.

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Tags: Trump tariffs, Us soybean market, Argentina deal, China soybean imports, Us farmers, Soybean prices,