NASHVILLE, Tenn. (WKRN) — Tennessee soybean farmers could see some financial relief from the federal government after losing out on sales because of tariffs, but some said they'd rather have access to a free market over cash.

According to the American Soybean Association, China — which used to be U.S. soybean farmers' biggest customer — has not made a single purchase since May due to tariffs imposed by President Donald Trump's administration. While the trade war with China may seem like a world away, the impact has hit Tennessee soybean farmers close to home.

“China has long been our biggest customer, and this has cut into our ability to sell soybeans to them," Alan Meadows, a Tennessee farmer and director with the American Soybean Association, said.

According to the University of Tennessee Institute of Agriculture, soybean losses are projected at nearly $110 million for 2025. A report by AgroLatam estimated that farmers who plant 3,000 acres stand to lose $250,000 just this season.

"When you’ve got a product that you’re having a hard time selling, the value of it goes down," Meadows said. "We're dealing with low prices — just really nowhere to move our product, therefore, the price in the end, your profit loss, it’s not a good thing."

Meadows told News 2 the trade war isn't the only problem farmers currently face. High input prices and other challenges, including weather and inflation, have created a perfect storm.

Late last week, President Trump announced his administration would consider using money the federal government made from the tariffs to fund a bailout for farmers.

“We’re going to take some of that tariff money that we made — we’re going to give it to our farmers ... We’re going to make sure that our farmers are in great shape," Trump told reporters.

While farmers are struggling financially, Meadows said a bailout isn't the answer.

“As a farmer, I would tell you first and foremost, all we want is fair access to markets around the world," Meadows said. "We’re never looking for bailout money, whatever. We really just want a free, fair, open market to be able to move our product in so that we can continue to sell soybeans in the markets that we’ve sold into for several years now.” 

News Source : https://www.wkrn.com/news/tennessee-news/farmers-soybean-losses-gov-weighs-bailout/