Soybean leader hopes urea tariff decision is just the beginning
A member of the American Soybean Association board is pleased with Monday’s ruling against increased tariffs on a form of nitrogen fertilizer.
Ronnie Russell of Missouri tells Brownfield the U.S. International Trade Commission’s decision not to impose tariffs on urea ammonium nitrate from Russia, Trinidad, and Tobago is a win for farmers. “We have been watching this go up over the past several months, but here lately, we’ve seen a little bit of relief in the price of nitrogen, but I think that this is going to additionally help quite a bit.”
Russell says he is hopeful the commission will now review its position on other fertilizer imports, like potash and phosphate. “I think that they got it set straight this time, which is certainly going to help us, but as far as the other products that maybe some of the other tariffs that are being imposed on imported fertilizer, maybe this might make them think a little bit differently about those tariffs on some of the other products, but we’ll just have to wait and see.”
Russell says not having the tariff should encourage more imports, increase supplies, and lower prices for farmers.