China Has Stopped Buying American Soybeans

Back in early April, China’s government sent a ripple of panic through the American Midwest by announcing plans to slap a 25 percent tariff on US-grown soybeans in response to President Donald Trump’s threatened levy on Chinese steel. While these tit-for-tat tariffs remain theoretical, China has embarked on a real-world attack on the US farm belt—it has quietly stopped buying US soybeans, Bloomberg reports, citing US-based grain-trading giant Bunge. “Whatever they’re buying is non-U.S.,” Bunge Ltd.

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