“Ceasing trade with China would have a major short-term impact on agricultural markets. China is one of our top two markets, going back and forth with Canada, with a rough value of $20 billion per year in ag trade,” Hart said.
The U.S. exports agricultural products to China more than any other country in the world annually, totalling $21.4 billion in soybeans, grains and pork, among other commodities. In addition, the U.S. receives $4.3 billion in agricultural imports from China each year.
“The loss of that market would be a major blow and it would take some time to find additional markets to make up for that loss,” Hart said.