Chinese Tariffs Impact on Upper Midwest Soybean Farmers Barring a settlement to the current trade dispute, China is expected to impose a 25 percent tariff on U.S. soybeans effective 6 July. It appears the situation may intensify after President Trump yesterday threatened to implement additional tariffs on another $200 billion of Chinese imports. The impact of such a tariff on soybeans will probably be greatest on farmers in the upper Midwestern states of Nebraska, Iowa, Minnesota and the Dakotas. This is because negative basis levels are likely to grow larger as the region loses soybean export demand via the West Coast. However, processors able to supply soymeal for export from there are likely to benefit. Before China became a major imp...