Trump's tariff threats spell trouble for soybeans


President Trump's threat to increase tariffs on $200 billion worth of Chinese goods has already reverberated across the stock market.
The S&P 500 slumped globally, Bloomberg reports, with tech and machinery companies among the biggest decliners in early trading on Monday. Commodities felt the effects, as well, including cotton, oil, and corn. But soybeans had a particularly rough go of it, with contracts headed toward their largest drop in about nine months. And the future is looking even worse.
Trump's trade war with China has been tough on the agricultural industry, in general. A Wall Street Journal analysis from February found that farmers in the Midwest are filing for the highest number of bankruptcies in a decade. Soybeans have taken a huge hit in the process — in December 2018, 3.7 billion bushels of the legumes were sitting in storage, a record high in the United States. China imports more U.S. soybeans than any other country.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Despite the bleak outlook, not all soy bean farmers are deterred, CNN reports. Many have remained patient throughout the trade negotiations and some will continue to plant at a similar rate.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Tim is a staff writer at The Week and has contributed to Bedford and Bowery and The New York Transatlantic. He is a graduate of Occidental College and NYU's journalism school. Tim enjoys writing about baseball, Europe, and extinct megafauna. He lives in New York City.
-
Today's political cartoons - May 6, 2025
Cartoons Tuesday's cartoons - rare earth minerals, rising prices, and more
-
What to know about Real IDs, America's new identification cards
The Explainer People without a Real ID cannot board a commercial flight as of May 7, 2025
-
Where is the left-wing Reform?
Today's Big Question As the Labour Party leans towards the right, progressive voters have been left with few alternatives
-
Warren Buffet announces surprise retirement
speed read At the annual meeting of Berkshire Hathaway, the billionaire investor named Vice Chairman Greg Abel his replacement
-
Trump calls Amazon's Bezos over tariff display
Speed Read The president was not happy with reports that Amazon would list the added cost from tariffs alongside product prices
-
Why does the US need China's rare earth metals?
Today's Big Question Beijing has a 'near monopoly' on tech's raw materials
-
Who would win in a China-US trade war?
Today's Big Question Tariff pain will be higher for China but Beijing is betting it can weather the storm
-
Markets notch worst quarter in years as new tariffs loom
Speed Read The S&P 500 is on track for its worst month since 2022 as investors brace for Trump's tariffs
-
Trump's plan to rebuild American shipping faces rough waters
Talking Points Fees on China-made ships could disrupt trade
-
Tesla Cybertrucks recalled over dislodging panels
Speed Read Almost every Cybertruck in the US has been recalled over a stainless steel panel that could fall off
-
Crafting emporium Joann is going out of business
Speed Read The 82-year-old fabric and crafts store will be closing all 800 of its stores