[{"_1":2,"_111":-5,"_112":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,75,87,99],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":72,"_73":72,"_74":72},"mediaId",6055750,"mediaKeyId","3316117-5f047ed6fe518f0e7f3f4e2cf5eea6a6","parentId",3316117,"title","Soybean farmers warn tariffs and retaliation are already shrinking markets and incomes","audioSeconds",418,"startMs",2856000,"endMs",3274000,"viewUrl","/Search/View?dp=1&key=3316117-5f047ed6fe518f0e7f3f4e2cf5eea6a6&start=2856&end=3274","thumbnailUrl","https://assets.pipeline.soar.com/3316117-5f047ed6fe518f0e7f3f4e2cf5eea6a6/thumbnail_2856000.jpg","articleUrl","/articles/6055750/Soybean-farmers-warn-tariffs-and-retaliation-are-already-shrinking-markets-and-incomes","mediaUrl","https://secure.pipeline.soar.com/6055750-3a17b2bd108f9fc8461588040809b2eb/orig.mp4?Expires=1771152511&Signature=kxogsePDuj6PIpfPvi5BWPEdYGTwlsI59iSDev7jS14JN3XmVhq79OgIVuEmGwp2dHQ8QK3CKO1Ik3xLlTPgPLZVXzJrfHSlB1y~WkdAQ4fLwHBfmbzcxCgtUHiM7RmzzB4SgVzAfch~AqNcZSCIAly0ZtChDEvtiOPknlr50TXu2rV3eHggrQ00TIHG7Vn23QNxlwCLTiuI7YvIJDb36c6Gj7C6QwuP2HnpWMyrda9Xu8-PsVBLcv0cpuQme7OE5Dh2hOSPKzRRq1cUCGNHoyfCTKbMHZTBBVm1m8Q9M0PTrYH2P7-HrKH5PHyx-WO0Y0lX6Wq9sC1iPt3Lt0UnaA__&Key-Pair-Id=KUT5TJCACFTXG","author","U.S. Senate Committee on Finance","date","2025-05-14T00:00:00Z","article","Witnesses representing U.S. soybean farmers told the Senate Finance Committee on May 14, 2025, that tariffs on U.S. goods and retaliatory duties abroad have substantially reduced export volumes to China and threatened farm incomes and rural communities.

The American Soybean Association witness introduced herself as Kayla Braglin, a ninth‑generation soybean farmer and the association’s president, and said China is “the largest market for oilseeds, importing approximately 110,000,000 metric tons or 60% of global soybean trade.” She said 54% of U.S. soybean exports went to China last marketing year, equal to about 25,000,000 metric tons and roughly $13,000,000,000 in value.

Braglin said retaliatory duties in the 2018 trade war reduced U.S. soybean exports to China and that the industry has not returned to pre‑2018 levels; she cited USDA Economic Research Service estimates that US soybean exports to China fell 76% in value from 2017 to 2018 and that agriculture losses exceeded $27,000,000,000, with soy accounting for 71% of those losses. She said the current combined duty facing U.S. soy into China is about 34% (including retaliatory and VAT components) and warned that renewed retaliation or escalation could depress futures and farm incomes as soon as the summer.

Committee members emphasized the need for predictability. Senators noted that potash — a major fertilizer input — is largely imported from Canada (witness said 87% reliance) and that import duties on such inputs would raise production costs. Witnesses urged negotiators to couple reciprocal tariff strategies with rapid talks to reduce existing tariffs, and they asked Congress to fund market‑development programs such as FAS/Market Access Program (MAP) and Foreign Market Development (FMD) funds.

The testimony noted that international competitors such as Brazil expanded production and infrastructure during U.S. export disruptions and that regaining market share will require sustained, predictable market access and investment in market development. The committee took testimony; no committee vote or formal policy adoption occurred during the hearing.","mediaType","Video","parentTitle","Trade in Critical Supply Chains","oneSentenceSummary","American Soybean Association testimony and senators' questions highlighted a sharp drop in U.S. soybean market share to China after the 2018 trade war and current retaliatory duties; witnesses urged rapid negotiations and expanded market‑development funding to restore export markets.","taxTitle","Finance: Senate Committee, Standing Committees - House & Senate, Congressional Hearings Compilation, Legislative, Federal","taxId",1993,"location","","headline","shortSummary",{"_33":76,"_35":36,"_37":38,"_39":77,"_41":78,"_43":79,"_45":80,"_47":81,"_49":82,"_51":83,"_53":84,"_55":56,"_57":58,"_59":85,"_61":62,"_63":64,"_65":86,"_67":68,"_69":70,"_71":72,"_73":72,"_74":72},6055755,"Semiconductor industry urges targeted trade strategy, investment and workforce steps to sustain U.S. lead",483,2553000,3036000,"/Search/View?dp=1&key=3316117-5f047ed6fe518f0e7f3f4e2cf5eea6a6&start=2553&end=3036","https://assets.pipeline.soar.com/3316117-5f047ed6fe518f0e7f3f4e2cf5eea6a6/thumbnail_2553000.jpg","/articles/6055755/Semiconductor-industry-urges-targeted-trade-strategy-investment-and-workforce-steps-to-sustain-US-lead","https://secure.pipeline.soar.com/6055755-a0a41825dcd3c13abcf2949e3e06724a/orig.mp4?Expires=1771152511&Signature=FFnLKI2E5mTpJJxm2yVV7bh2MZfDEWsWuJiXHOEdGWdph4skGV08zEIcUa0ELY8unErfRXPT4QrdYQWu6BkWbPkzQ0-4suG6LAjU6SHbZAcYexqjBoVQt015dxrn9BlvpNQdeDWTODUUsP05ZsYQEzvhrnv~E0XOL703nHrsqCc1sVHlYtoq1Szkr-bLFtQKLH1Yxf0BRIjB9q12QgWhS9qyMnbfEf2cpL8xYt1rLhg6w1mc-SeKcOD22YLQ~7hSbw79KFSCp8r5hiFOqKOxguX8lQmYFkIwsvkLY-4W~wOHuiSFvFlDOYndyeROSWfMyHsvX67hRlYtWqmuLGWC2g__&Key-Pair-Id=KUT5TJCACFTXG","Semiconductor industry leaders told the Senate Finance Committee on May 14, 2025, that targeted trade measures, not blanket tariffs, are needed to preserve U.S. competitiveness as domestic chip manufacturing expands under CHIPS‑era investments.

David Isaacs, vice president for government affairs at the Semiconductor Industry Association, said the industry has announced “investments of over $540,000,000,000 in dozens of projects in 28 states” and warned that a leading‑edge fabrication plant can cost “as much as 20 to $30,000,000,000.” He added that “over 70% of our sales are overseas” and that access to global markets is necessary to sustain the capital and R&D intensity of the sector.

Isaacs told senators that broad tariffs on inputs and equipment could “increase the cost of critical inputs in American manufacturing and therefore weaken the competitiveness of the U.S. industry.” He recommended a pro‑growth package: extend and strengthen the advanced manufacturing investment tax credit (including adding chip research and design), increase R&D funding, invest in workforce and STEM, streamline permitting and regulatory processes for fabs, and pursue trade strategies to increase market access, including sectoral agreements for semiconductors.

Members raised concerns about tariffs affecting fab equipment and other sophisticated imported inputs; Isaacs noted that a large share of fab equipment costs are imported and urged strategic, phased exemptions for critical inputs. Senators discussed building domestic capacity while maintaining secure access to allied suppliers and export‑control coordination for national security purposes.

No committee votes occurred; witnesses emphasized a mix of domestic investment and targeted trade policy rather than broad import duties.","The Semiconductor Industry Association told the Senate Finance Committee that broad tariffs could raise costs for chipmakers and urged targeted exemptions, expanded tax credits, increased R&D and workforce development to protect U.S. competitiveness and the CHIPS‑era investments.",{"_33":88,"_35":36,"_37":38,"_39":89,"_41":90,"_43":91,"_45":92,"_47":93,"_49":94,"_51":95,"_53":96,"_55":56,"_57":58,"_59":97,"_61":62,"_63":64,"_65":98,"_67":68,"_69":70,"_71":72,"_73":72,"_74":72},6055760,"Experts tell Senate panel U.S. must pair diplomacy, targeted incentives to cut China’s processing dominance",394,2246000,2640000,"/Search/View?dp=1&key=3316117-5f047ed6fe518f0e7f3f4e2cf5eea6a6&start=2246&end=2640","https://assets.pipeline.soar.com/3316117-5f047ed6fe518f0e7f3f4e2cf5eea6a6/thumbnail_2246000.jpg","/articles/6055760/Experts-tell-Senate-panel-US-must-pair-diplomacy-targeted-incentives-to-cut-Chinas-processing-dominance","https://secure.pipeline.soar.com/6055760-566e40b33e299b4bd857c1f3b20722f7/orig.mp4?Expires=1771152511&Signature=Fp3~uS-g9DNMlShIpoCjtFv96TGh3x-IGSa2Nf9SlmAV6qjB2RP1LLVxSJO6b69dxVl9JnfkzTBuBT1rW8lAw1UPiH-hQYI9sGNA1nM4qeNPSiNqUtoMuHR~4NzFFXa3Kp7D~MByhKyIqTRrh5nX0uy~tcCS9R99yg0NxFI7cgzF1lrFoWgb6URgc96kvBRG42CeiVFzc4NAhbw~JKOlxc6~gg~pn13PQiLKCrOTp4f8r1PPA2KelOsTjk~KHU~UwDzjTjI1bhaj1mrOHilh2hxoAUcf9agvP0i2M5kI5V3h~80MKfoW8EFZd3REhe82ih93xAoWTgwDPWWcdAsOAg__&Key-Pair-Id=KUT5TJCACFTXG","A Senate Finance Committee hearing on May 14, 2025, heard testimony that the United States remains dependent on foreign processors for many critical minerals and that policy changes should combine trade diplomacy, targeted incentives and investment to reduce reliance on China.

Dr. Gracelyn Baskaran, director of the Critical Minerals Security Program at the Center for Strategic and International Studies, told the committee that “China stands as a lead producer for 30 of the 50 critical minerals that we have identified” and controls large shares of processing even when it is not the largest miner. She said the United States has limited reserves — for example, “The United States holds less than 1% of the world's nickel, graphite, and cobalt. We actually only have 1.3% of the world's rare earths.”

Baskaran outlined a set of policy recommendations for reducing dependence: broaden the definition of eligible allied sourcing under the Inflation Reduction Act (she referenced difficulties with the IRA’s \"section 30D\" sourcing rules), avoid tariffs on raw ore that would undermine nascent domestic processing, align export‑finance tools (DFC and EXIM) with guaranteed U.S. offtake, prioritize vertical integration so early mining investments do not end up feeding Chinese processors, and invest in the midstream ecosystem (energy, roads, rail) and strategic corridors such as the Lobito Corridor.

She said the IRA’s 30D provision, which ties tax credits to minerals processed in the U.S. or free‑trade‑agreement (FTA) partners, can unintentionally disqualify resource‑rich countries (for example Argentina, Brazil, Indonesia, Namibia, Vietnam and Zambia) and reduce investment incentives where geology does not align with existing FTA partners.

Committee members and witnesses discussed the tradeoffs of tariffs and incentives. Baskaran warned that tariffs on raw ore can raise feedstock costs by 10–25%, making domestic processing commercially unviable, and that U.S. financing should avoid underwriting projects whose offtake is contracted back to China. Senators asked about using sectoral agreements and finance‑linked offtake to replicate models used by Japan and other allies.

No formal legislative action was taken at the hearing; witnesses recommended a combination of trade, finance, and tax changes to spur allied processing capacity while protecting nascent U.S. plants from being undercut.","CSIS expert Gracelyn Baskaran said the U.S. lacks processing capacity and geology limits domestic supplies; she recommended targeted trade, financing, and vertical‑integration strategies and cautioned that some IRA sourcing rules unintentionally exclude resource‑rich partners.",{"_33":100,"_35":36,"_37":38,"_39":101,"_41":102,"_43":103,"_45":104,"_47":105,"_49":106,"_51":107,"_53":108,"_55":56,"_57":58,"_59":109,"_61":62,"_63":64,"_65":110,"_67":68,"_69":70,"_71":72,"_73":72,"_74":72},6055765,"Medical device industry urges exemptions, warns tariffs could disrupt patient care",250,1932000,2182000,"/Search/View?dp=1&key=3316117-5f047ed6fe518f0e7f3f4e2cf5eea6a6&start=1932&end=2182","https://assets.pipeline.soar.com/3316117-5f047ed6fe518f0e7f3f4e2cf5eea6a6/thumbnail_1932000.jpg","/articles/6055765/Medical-device-industry-urges-exemptions-warns-tariffs-could-disrupt-patient-care","https://secure.pipeline.soar.com/6055765-42bdade127d7a662e1494608d37582ce/orig.mp4?Expires=1771152511&Signature=GOevIzNys3cOa4rX~a3UAOC4IKixEuWG3G0jM3JEySjKAEPXf9kW-bi0aX20JM0b6uLh8fBSfDjehvUQOpKzNsDRijWEtgierfQHk6sJcwJQzPSuNmEB42pQc6FbE~uhe9GrCFs4TPr~MsHxQrWS9tGxkOClCFvuJUi2HUiP914HSoFCb2eAS2OiBXrmZwAtB6BeSo3S8l4PdBDVL~BjdHYAsJUv~IpimhnfBwJVgBFc4407VKuQT~ANY88mKxrKRjAQ0n3ScH6nt6oJjQ6ucLgTw8Nhhzf2aWTOY1dKSqrLZw320sHZEWqHsQ8UZ0SCpUsWCN-Hqt7NJtnL3vnrOQ__&Key-Pair-Id=KUT5TJCACFTXG","Medical device makers told the Senate Finance Committee on May 14, 2025, that broad tariffs on imported inputs risk disrupting hospitals’ access to essential equipment and raising health‑care costs.

The medical technology trade group AdvaMed’s president and chief executive, Scott Whitaker, told the committee that “MedTech products are mandatory, not optional. They can mean the difference between life and death, which is why they're highly regulated as they should be.” He said up to 70% of medical technology used in the United States is already made domestically and that the industry supports about 3,000,000 jobs.

Whitaker said many medical products contain hundreds of parts from multiple countries and moving production to the United States is a multiyear effort subject to regulatory approvals. He warned that sudden tariff increases would raise input costs and could imperil multi‑year relocation plans, citing an example of neonatal products that supply 50–70% of U.S. neonatal intensive care units and would take “3 to 5 years to fully implement” a move to domestic production.

Committee members pressed witnesses on options to strengthen domestic manufacturing without interrupting patient care. Whitaker recommended short‑term tariff flexibility for the sector, targeted exemptions for critical medical inputs, and tax and regulatory incentives and faster pathways for medical technologies to come to market. He asked for a “reciprocal 0 for 0 model” for medtech in any country‑by‑country tariff negotiations so humanitarian medical products remain tariff‑free.

Senators from both parties underscored the stakes for patients. In questioning, senators asked whether tariffs might force hospitals to pay more or create shortages. Whitaker reiterated that “the tariff barrier ... is the biggest challenge we've faced in a long time relative to accessing all the component parts we need to finish these products and provide them to hospitals.”

The witnesses and several senators called for narrowly targeted trade enforcement and for the committee to consider tax and regulatory incentives that make on‑shoring feasible without causing immediate supply interruptions.

Less critical details discussed in committee exchanges included the role of Medicare, Medicaid and VA purchasing contracts in constraining hospital prices and the industry’s view that medtech historically has been treated as humanitarian trade and that maintaining that treatment reduces risks to patients.","Industry witnesses told the Senate Finance Committee that broad tariffs on imported inputs would raise costs and risk supply disruptions for life‑saving medical devices; AdvaMed asked for targeted flexibility and a reciprocal 0‑for‑0 approach in negotiations.","actionData","errors"]

Article not found

Soybean farmers warn tariffs and retaliation are already shrinking markets and incomes

Semiconductor industry urges targeted trade strategy, investment and workforce steps to sustain U.S. lead

Experts tell Senate panel U.S. must pair diplomacy, targeted incentives to cut China’s processing dominance

Medical device industry urges exemptions, warns tariffs could disrupt patient care