>> China's aggressive trade retaliation is raising alarm in America's heartland. Among 106 products that China has threatened to hit with a whopping 25% tariff. Soy beans, the countries biggest agriculture export to China last year. Reuters' correspondent Mark Weinraub says US farmers are anxious.>> Their biggest worry is that China is just gonna look to Brazil and start buying more of their soy beans from Brazil.
Brazil already is China's biggest suppliers. US has seen its market share decline and that could go down even further. They're concerned about the past decade has really seen growth in soy bean acreage in the United States and that's been fueled largely by Chinese demand. So, if that starts to evaporate, farmers are starting to look at a lot less options than they used to be.
>> In fact, soy beans were said to overtake corn as the country's most widely planted. Now, that's up in the air. Weinraub says some farmers are debating letting their fields go fallow.>> Which really is something farmers have been loathe to do. They wanna make any kind of money they can, but if there's no optional crop to plant.
If they let it go for a year maybe that'll boost prices if that does significantly impact the amount that's being produced.>> But many farmers have already prepared their fields for planting this spring, and there's hope that the threatened tariffs won't materialize in the end. As China has said, it will only go ahead if the US acts first.
>> Believe they've gotten away with this for so long.