Carson Horn
The Communications Group


LITTLE ROCK, Ark. (November 14, 2019) - The Arkansas Association of Asian Businesses (AAAB) hosted a workshop in Little Rock last week entitled "Navigating the US-China Trade War for the Arkansas Economy." During this meeting, Derek Haigwood, a soybean producer from Newport, Arkansas and president of the US Soybean Export Council (USSEC), explored the impact trade tariffs have had on
the state's economy from an agricultural perspective.

"When we talk about tariffs and this trade war, I have a lot of motivation as a farmer and feel soybeans have been the tip of the spear," Haigwood said.

While US access to China's market has narrowed in recent years as a result of ongoing trade disputes, Haigwood explained that other smaller nations are increasing their soybean purchases from the US, offsetting some of the demand lost in China. However, he adds that to fully make up for China's market, the US would have to secure 92% of the market share from every other soybean importing country.

Haigwood remarked that the US soybean industry is willing and eager to fulfill consumer demand around the world. He reiterated that given the current trade situation and stockpiling that has occurred, the US soybean industry is uniquely positioned to quickly respond to those market tenders as they come.

USSEC has been investing in its relationship with China for almost four decades. According to Haigwood, China was a net exporter of soybeans in 1982. Today, China is the largest soybean importer in the world.

November has been proclaimed Arkansas Soybean Month by Governor Asa Hutchinson. The Arkansas Soybean Promotion Board (ASPB) invites all Arkansans to join in the celebration of Arkansas's soybean producers by visiting its website throughout November for exclusive content. There, visitors to the website can find recipes, learn about the many careers in agriculture, listen to podcasts on the latest research and meet the leaders who serve on the ASPB. Also, be sure to watch
the Arkansas Soybean Brand Documentary, a short, two-and-a-half minute video offering a behind-the-scenes look at what it takes to sustain this valuable industry.

For more information about Arkansas's soybean industry, visit or follow ASPB on Twitter, Facebook or Instagram.

Arkansas Soybean Promotion Board

The Arkansas Soybean Promotion Board consists of soybean producers appointed by the Governor and nominated by various producer organizations within Arkansas. Although board members contribute many hours of their time to administering the program, they serve without pay.

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