China has not bought a bushel of soybeans from U.S. farmers this year. What happens to the crop now?

The combination of 20% retaliatory tariffs, as well as value-added taxes (VAT) and most favored nation (MFN) taxes, have pushed China’s overall duty rate on U.S. soybeans to 34% in 2025, the industry group said. U.S. soybean prices for overseas buyers became “prohibitively more expensive” than South American soybean supplies ahead of the U.S. harvest this fall, it added.Global protein demand has surged over the past three decades, and the U.S. is well positioned to help meet it — but retaliatory tariffs hav ...