# New US-China Trade War Could Cost Farmers Billions | Farm Policy News | Illinois

> A study commissioned by the American Soybean Association and National Corn Growers Association estimates that a new US-China tariff war could cost soybean farmers $3.6 to $5.9 billion and corn farmers $0.9 to $1.4 billion annually. It also projects lower crop prices in the US.

- Date: 2024-10-17 · published 2024-10-17T12:00:00.000Z
- Category: trade · region US · magnitude medium
- Page: https://feedsoft.ai/events/27846-new-us-china-trade-war-could-cost-farmers-billions-farm-policy-news-illinois
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

The study implies a renewed tariff war would reduce China's US purchases and lower US soybean and corn prices, while raising the risk of Brazilian and South American acreage expansion.

## Read by commodity

- SBM: bearish ▼
- SOY: bearish ▼
- CORN: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2024-02-06 | [Trump Considering 60% Tariff on China \| Farm Policy News \| Illinois](https://feedsoft.ai/events/14778-trump-considering-60-tariff-on-china-farm-policy-news-illinois.md) | -0.3% | -4.6% |
| SOY | 2019-04-25 | [Farmers have received $8.4 billion in China trade war aid - UPI.com](https://feedsoft.ai/events/59574-farmers-have-received-8-4-billion-in-china-trade-war-aid-upi-com.md) | -1.8% | -3.1% |
| SOY | 2018-12-31 | [Trade wars cost U.S., China billions of dollars each in 2018](https://feedsoft.ai/events/61652-trade-wars-cost-u-s-china-billions-of-dollars-each-in-2018.md) | +3.3% | +4.1% |
| SOY | 2018-04-12 | [Federal Assistance for Farm Trade Impacts \| Farm Policy News \| Illinois](https://feedsoft.ai/events/65505-federal-assistance-for-farm-trade-impacts-farm-policy-news-illinois.md) | -0.6% | -3.9% |
| SOY | 2017-02-07 | [Trade Policy Uncertainty: Lingering Concern for Farmers - Farm Policy News](https://feedsoft.ai/events/72478-trade-policy-uncertainty-lingering-concern-for-farmers-farm-policy-news.md) | +1.8% | -2.1% |
| CORN | 2017-12-11 | [USDA Trade Data; NAFTA Perspectives from Farm State Senators \| Farm Policy News \| Illinois](https://feedsoft.ai/events/67349-usda-trade-data-nafta-perspectives-from-farm-state-senators-farm-policy-news.md) | +4.7% | +5.7% |
| CORN | 2017-02-07 | [Trade Policy Uncertainty: Lingering Concern for Farmers - Farm Policy News](https://feedsoft.ai/events/72478-trade-policy-uncertainty-lingering-concern-for-farmers-farm-policy-news.md) | +1.9% | +1.6% |
| CORN | 2019-09-09 | [U.S., China Trade Talks Set to Resume; Agricultural Export Markets Continue to Adjust \| Farm Policy News \| Illinois](https://feedsoft.ai/events/10853-u-s-china-trade-talks-set-to-resume-agricultural-export-markets-continue-to.md) | -0.9% | +3.4% |

## Sources

- farmpolicynews.illinois.edu: https://farmpolicynews.illinois.edu/2024/10/new-us-china-trade-war-could-cost-farmers-billions/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.