Talk of a trade war between the U.S. and China, with potentially severe tariffs on soybeans and other ag products exported to China, may be overblown, says Mississippi Land Bank Chairman Abbott Myers.
“I’m very positive that the tariff situation isn’t going to be a big thing — that it will be worked out,” he told bank stockholders at the organization’s annual meeting.
“China needs soybeans. If China buys every soybean produced in South America, they still won’t have enough soybeans to meet their needs. They’re still going to have to come to the U.S.”