ARK GOV VOICES TARIFF CONCERNS - The state of Arkansas produces a lot of agriculture products and a big part of that produce is Soy Beans. Yesterday, Governor Asa Hutchinson voiced his concerns about President Trump’s Trade Tariffs with China. China is arguably the number one customer for Soy Beans grown in the United States. Hutchinson told Arkansas Public Radio KUAR that he’s anxious for success in the trade talks with China as the escalating tariffs have impacted markets, with soybean prices falling to their lowest levels in a decade.
"We need to get back to the table and we need to get back to the basics of the agreement," explained Hutchinson. " But the basics of the agreement should be lowering tariffs. And I think the president needs to do a better job of explaining what we're going to end up with when all this is over with, to give hope to our farmers, give hope to those who are dependent upon this commerce. Ultimately consumers pay for it."
According to the Arkansas Farm Bureau - Soybeans are the state's largest row crop, , with 3.1 million acres, accounting for more than rice, corn, sorghum and wheat combined. The drop in prices, combined with recent wet weather that delayed planting, has Arkansas Farmers worried, as are Texas and Louisiana Farmers with Soybeans being a major row crop in those states as well.