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Grassley raises alarm about soybeans, Argentina ‘bailout’
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Sen. Chuck Grassley (R-Iowa) said Thursday that American farmers have been overshadowed and outsold by Argentinian soybean production, slamming President Trump for agreeing to soften the South American country’s economic hardship.
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Argentina recently suspended its 26 percent export tax on soybeans, an opportunity used by China to purchase more than 1 million tons of the crop, according to Reuters.
“Why would USA help bail out Argentina while they take American soybean producers’ biggest market???” Grassley wrote in a Thursday post on social platform X.
“We shld use leverage at every turn to help hurting farm economy,” he added. “Family farmers shld be top of mind in negotiations by representatives of USA.”
In past years, the U.S. has been the No. 1 supplier of soybeans to China, which purchased more than half of all American soybean exports last year. But China has bought 51 percent fewer soybeans from the U.S. during the first half of the year, while soybean exports are down by 23 percent overall this year, according to The New York Times.
Read more here.
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Welcome to The Hill’s Business & Economy newsletter, I’m Sylvan Lane — covering the intersection of Wall Street and Pennsylvania Avenue.
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Key business and economic news with implications this week and beyond:
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Former Trump antitrust chief joins Paramount after merger with rival
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The head of the Department of Justice’s (DOJ) Antitrust Division during President Trump’s first term, Makan Delrahim, joined Paramount Global on Thursday after the company merged with rival Skydance two months ago.
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Democrats dismiss Trump budget office threats as shutdown edges closer
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Democratic congressional leaders are dismissing a threat from the White House budget office to fire masses of federal workers during a government shutdown, saying they will not be intimidated into caving on their demands for talks on extending health care subsidies.
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Trump signs order to approve TikTok deal, avoid US ban
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President Trump signed an executive order Thursday that approves a deal to keep TikTok available in the U.S. after months of uncertainty about the future of the popular Chinese-owned social media platform.
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Pokémon Co. ‘not involved’ in ICE raid video with theme song
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The Pokémon Co. International said it was “not involved” in the creation of an Immigration and Customs Enforcement (ICE) raid video, adding it did not give the agency permission to use its intellectual property.
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Upcoming news themes and events we’re watching:
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The Bureau of Economic Analysis (BEA) releases personal consumption expenditures (PCE) price index inflation data Friday at 8:30 a.m. EDT
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Branch out with more stories from the day:
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Trump signs executive order supporting proposed deal to put TikTok under US ownership
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WASHINGTON (AP) — President Donald Trump signed an executive order Thursday that he says will allow …
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Opinions related to business and economic issues submitted to The Hill:
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All of these things are ‘killing’ small businesses — so why are they optimistic?
- ‘Slowbalization’ and a newly shaky world economy are upon us
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You’re all caught up. See you tomorrow!
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