News

Soybean growers applaud court ruling, warn against new Trump tariffs

American Soybean Association President Scott Metzger says he’s relieved to know President Trump can no longer use the International Emergency Economic Powers Act to impose tariffs.

“The IEEPA tariffs have been used on several ag products,” he says.

The U.S. Supreme Court issued a decision on Friday that refuted many of Trump’s tariffs, including the ag input tariffs on fertilizer and farm equipment.

Metzger says soybean farmers want Trump to refrain from imposing any new tariffs on ag inputs, because it’s getting more expensive to farm.

“Crop inputs are expected to reach record highs this year, with beans being up three percent across the board. It’s going to make things extremely tight.”

However, after the SCOTUS ruling, Trump said he would sign an order to impose a 10 percent global tariff under Section 122 and would investigate other ways to implement tariffs as well.

Metzger tells Brownfield “what we really want President Trump to do is negotiate new trade agreements that help give us market access.”

The ASA says Trump could use Section 301 or 232 to impose more tariffs on ag inputs.

Metzger says farmers will be closely watching what happens next in tariffs and trade, including an upcoming visit between the U.S. and China scheduled for late March.