Floor Remarks by Senator Chuck Grassley of Iowa
Senate President Pro Tempore
“The Agricultural Economy: Trade and Tariffs”
Wednesday, October 1, 2025
I come to the floor once again to speak about the agricultural economy, and [about] trade and tariffs in this particular instance today.
You’ve heard me talk about the high input costs that farmers are facing.
I concluded my remarks two days ago by saying farmers need immediate relief, and that’s especially true if it’s the federal government’s action that has caused the economic hardships.
And I’m going to speak about some of that federal government action.
It happens that fertilizer is one of the largest expenses in growing crops.
Most fertilizers used in the United States [are] imported. The tariffs on fertilizers have sent shockwaves throughout the supply chains.
Most often, those waves come crashing down on the farmers, who bear the brunt of increased costs of fertilizer.
Tariffs not only cause farmers to pay more for their inputs, but they have also seen tariffs reduce markets for U.S. farm products.
Last week, when the Argentinians reduced export tariffs, they sold $7 billion worth of soybeans in just a few days …
It happens that China has not bought a single one of Americans’ soybeans this year, and that’s why farmers are losing $2 per bushel on soybeans.
Taking away tariffs on ag inputs and striking meaningful deals to open markets would send immediate signals to the ag economy, helping farmers’ bottom lines.
Yesterday, former Senator David Perdue, now Ambassador to China, visited the United States Senate, and I had the opportunity to express my views about the situation with China not buying soybeans.
And, he says … [it is] the number one issue when it comes to talking about trade negotiations with China.
He also mentioned something that I think I need to bring it to attention, because it’s something that China promised to do in 2019.
It was something that Trump, in his first term, negotiated with China, that they had to buy a certain amount of agricultural products from the United States
And during the period of time that Trump was president, they filled about 2/3rds of that agreement.
But, the Biden administration came into power and didn’t follow up on the enforcement of that 2019 Trump agreement with China to buy agricultural products.
So besides hoping that Trump makes a quick deal with China, settles our trade disputes so they’ll buy soybeans, I hope that maybe President Trump today can follow up on the shortcomings of the Biden administration not enforcing that 2019 agreement with China.
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