May 5, 2026. Washington, D.C. Soybean farmers are already facing significant economic headwinds and new trade actions could add further strain, American Soybean Association (ASA) Vice President and Iowa soybean farmer Dave Walton said today in testimony before the Office of the United States Trade Representative (USTR).
“Soybeans are the largest ag export in the U.S., and robust trade is a top priority for our industry,” Walton emphasized, noting that in the 2024–2025 marketing year, the U.S. exported 68.7 million metric tons of soybeans, soybean meal, and soybean oil, valued at $29.6 billion and accounting for 58% of total U.S. soy production.
Walton highlighted real-world impacts of past trade disputes, including a 76% drop in the value of U.S. soybean exports to China during the 2018 trade conflict.
“We are concerned this investigation could lead to remedies that will set back ongoing negotiations and lead the reimposition of even higher tariffs against U.S. soybeans by China,” Walton said.
Farmers are also facing mounting financial pressure, as soybean producers are expected to incur a $117 per acre market loss this year while continuing to manage elevated input costs tied to global supply chains.
Building on those concerns, Walton added, “As USTR moves forward with this investigation, it is the recommendation of ASA that USTR and the administration keep in mind two major recommendations.”
He urged USTR to pursue targeted remedies, including exemptions for critical agricultural inputs, and to avoid actions that could disrupt key trading relationships by exempting Mexico and Canada from any future Section 301 remedies.
ASA submitted joint written comments alongside the U.S. Soybean Export Council (USSEC) and will continue engaging with the administration on trade policies impacting U.S. soybean farmers.
