RAPID CITY, S.D. (KOTA TV) - The proposed 25% tariff on goods traded with China didn't go over too well. Causing US soybean farmers to worry.
Bob Metz, who is on the South Dakota Soybean Research and Promotion Council, says "China was buying almost one-third of all the soybeans produced in the United States before the tariffs."
60 to 70 percent of the soybeans sent to China came from the Mount Rushmore State.
Metz says, "So when we put on tariffs, the quickest place to retaliate against the US is on the soybean markets."
And since the tariffs started, the price for a bushel of soybeans has gone down by almost two dollars, hitting farmers dramatically.
Stan Lewis is a soybean farmer.
"They usually produce anywhere from 40 to 70 bushels per acre," said Lewis. "So depending on the year and the weather cycles and such."
But whether or not soybean tariffs are in place, farmers are still concerned.
Lewis says, "The markets are terrible in a word and that's kinda across the board the markets are bad. So no matter what I am raising the market are not really good for farmers or ranchers really."