Illinois Congressman Leads Delegation in Urgent Call for Trade Deal with China

Strategic Insights -

As President Trump prepares to meet with President Xi Jinping of China to discuss U.S. soybean and agricultural exports, Congressman Eric Sorensen and the Illinois delegation are sounding the alarm on the devastating impact of the ongoing trade war on American farmers. Without a trade deal, U.S. soybean farmers could potentially lose $12.6 billion, a staggering amount that represents 52% of all American soybean exports last year. In Illinois, where soybean exports account for 50% of international soybean exports, the situation is dire, with soybean exports down 18% on the year.

Key Takeaways:

  • Congressman Eric Sorensen and the Illinois delegation have written a letter to President Trump calling for an immediate end to the trade war with China, which is crushing the Illinois and American farm economy.
  • The trade war has led to a 18% drop in soybean exports in Illinois, with farm bankruptcies nearly doubling from the previous year.
  • Last year, China purchased $12.6 billion in U.S. soybeans, representing 52% of all American soybean exports.
  • Soybean exports in Illinois are critical for farmers' livelihoods, with access to traditional international markets like China being a crucial factor in their survival.
  • The letter is endorsed by the Illinois Soybean Association and the Illinois Farm Bureau.
  • Without a trade deal, American farmers will suffer billion-dollar losses at a time when they are dealing with one of the worst ag economies in recent memory.

Statistics:

  • $12.6 billion: The amount of U.S. soybeans purchased by China last year.
  • 52%: The percentage of all American soybean exports that went to China last year.
  • 50%: The percentage of international soybean exports from Illinois that went to China.
  • 18%: The drop in soybean exports in Illinois on the year.
  • 112%: The increase in farm bankruptcies in Illinois from the previous year.

Sources:

  • Office of Congressman Eric Sorensen (IL-17)
  • The letter signed by Congressman Eric Sorensen and the Illinois delegation
  • Illinois Soybean Association
  • Illinois Farm Bureau