Trump's trade war looms over soybean farmers 4 years later
President Joe Biden has chosen to leave US tariffs imposed by his predecessor in 2018 in place on $350 billion in Chinese goods.
In turn, Beijing has left its retaliatory tariffs on some agricultural products, including soybeans, and some American-made goods.
The Chinese tariffs hurt US farmers by making American-grown soybeans more expensive for Chinese buyers, who bought a majority of US exports prior to the trade war.
Instead of exporting his soybeans, he is selling them to a domestic company that will use the crop for seed.
If trade tensions eased, Beijing may lift the tariffs on US soybeans too.
He's also frustrated that the administration has so far failed to successfully appoint people to two key agricultural trade positions: The chief agricultural negotiator role at the Office of the US Trade Representative and the undersecretary for foreign trade position at the US Department of Agriculture remain open.
If it was a priority for them, they'd have those trade positions filled and they'd be working on updating trade agreements with China and other countries," he said.
While agricultural exports to China returned to 2017 levels, they fell short of China's commitment.
Biden suggested earlier this year that China's failure to meet its commitments is the reason he's leaving the tariffs in place.
As US exports to China increased after the Phase One agreement was reached, exports from other countries grew at even faster.
But trade issues have taken a back seat to other more pressing worries for farmers, according to the Purdue University/CME Group Ag Economy Barometer .
While Walton remains frustrated with the Biden administration's lack of action on trade, he also said he is worried about rising costs, especially for herbicide.