Acadiana Soybean Farmers Brace for Worst after China Imposes Tariffs
By: Josh Meny, KATC
Acadiana soybean farmers are bracing for the worst case scenario after China imposes tariffs on American products. The tariffs are in retaliation to tariffs imposed on Chinese imports by the Trump administration.
Among the American goods affected are soybeans.
"If these tariffs aren't straightened out here within the next month or two, that the economic recession here in Louisiana will be felt by retailers and everything because Louisiana grows 1.3 million acres of soybeans," said Louisiana Soybean Promotion Board Chairman and St. Landry soybean farmer Charles Cannatella.
Soybeans are the highest earning crop in Louisiana, earning $680 million dollars in revenue last year.
Soybeans are also the state's second highest earning export behind oil.
Louisiana has 2,300 soybean producers with 1.2 million acres of farmland devoted to the crop.