Page 28 - Soy Beans News Today : Breaking News, Live Updates & Top Stories | Vimarsana

>> douglas, thank you. >> thank you. joining us now on the phone, president of the missouri soy bean association. sir, good to have you with us. we know from the very beginning when china said they would retaliate, we knew they were going after certain products, soy beans among them and in certain areas. how do you feel about today's tariff news? >> you know, it hurts. one in three rows of soy beans in the united states are exported. china buys 60% of them. that's a big chunk of our exports. that's a big part of our income. >> this is not just -- help us put this in context, for folks at hom...

The european union, i imagine their fences are less but we lumped them into the same big old pot. does that worry you? >> yes, it does. they could be allies in dealing with china. china is all around the world. we don't want to alienate allies. we're in a position where we're renegotiating nafta now. it's a good thing. the time to do that. from an agriculture standpoint, we hope to see gains there. the europeans are concerned, the president has a legitimate point. we see very producted agriculture markets in the european union. there's some lauren simonetski . we have a huge export of soy bean...

You. you're our president. but we have to get this done in a timely manner. >> neil: they have been patient. the read from the american farm bureau federation talking with me earlier on fox business network. there is a limit to our patience because we're getting hit hard right now. when you think about it, everything from soy beans to white, barley, they all trade on the commodities markets, future markets. a lot of those prices were headed south long before donald trump became president of the united states. this trade rift that has turned out to be more involved has obviously accelerated tha...

That doesn't gain from the tariffs anyway. big agricultural district. a district that is big oil and gas producer. the price on metals hurts us and the aeronautical industry as well. very metal sensitive. there's not much upside in this fight but there's a lot of confidence in the president of the united states. he's asked for patience and so far at least he's gotten it. >> neil: there's always a timetable on patience, sir. what do you think it is? a lot of your constituents have been dealing with this because their products trade on the open markets in real time. they've been seeing that tumb...

China saying it will respond immediately with equivalent tariffs on american products, soy beans, sport utility vehicles. the u.s. tariffs are going to cover more than 800 categories of products from china. china will be placing tariffs on around 550 categories of u.s. products. today, also significant in u.s.-mexico trade relaxes, mexico began imposing its second stage of retilltry tariffs on dozens of u.s. goods. this is mexico's response to the trump administration's duties on mexican steel and aluminum coming into the u.s. mexico, to even the score, as they see it, targeting u.s. goods suc...