WATCH: Pritzker not confident Trump can solve soybean trade deal with China

By Greg Bishop | The Center Square
The Center Square

(The Center Square) – With shipments of soybeans last month to China dropping to zero for the first time since November 2018, Illinois Gov. J.B. Pritzker is sounding the alarm.

The U.S. Department of Agriculture shows no outstanding sales of soybeans to China for the week ending Sept. 18. Last year at the same time, China bought more than 6,500,000 metric tons. Illinois is the largest producer of soybeans in the U.S.

Friday, Illinois Gov. J.B. Pritzker explained what the impact of China not buying soybeans means, if it persists.

“We’re talking about I believe more than $12 billion of sales from Illinois soybean farmers that normally would be sold to China if there were regular trade going on, it’s not something special,” Pritzker told reporters.

Meeting with Australia’s prime minister Monday, President Donald Trump said he wants to get China to buy more soybeans from the U.S.

“They stopped buying our soybeans because they thought that was punishment, and it is punishment to our farmers, but we’re not going to let that happen,” Trump said.

Trump said his tariffs on China are sending a message.

“It’s probably nicer. Saying you’re going to pay 158-157% tariff is a nicer way of saying that ‘we don’t want to do business with you,’” Trump said. “And if they don’t do business with us, I think China is in big trouble.”

Pritzker said if a deal isn’t struck, the impact could be $12 billion in lost sales to Illinois’ agriculture economy.

“That’s just what it would be this year if not for the tariffs and the war, the tariff war that has ensued from this administration so there isn’t a solution to this,” Pritzker said.

Trump said he’s aiming to get China to buy soybeans as they used to and will be meeting with Chinese leadership in the weeks ahead.