US President Donald Trump on Tuesday claimed that China is "purposefully" not buying the soybeans from their farmers, and this is the reason they are considering terminating the business with Beijing.
Calling China's deliberate work an "economically hostile act," Trump said that they can make the cooking oil themselves and don't need China for that.
In a post on Truth Social, Trump said, "I believe that China purposefully not buying our Soybeans, and causing difficulty for our Soybean Farmers, is an Economically Hostile Act. We are considering terminating business with China having to do with Cooking Oil, and other elements of Trade, as retribution. As an example, we can easily produce Cooking Oil ourselves, we don’t need to purchase it from China."
The United States soya bean harvest is under way, and China, once the biggest buyer of American soybeans, hasn’t booked a single purchase, sending prices tumbling and farmers into panic.
The abrupt halt mirrors Beijing's previous use of rare earth exports as leverage in trade wars. Now, it's soybeans.
Calling China's deliberate work an "economically hostile act," Trump said that they can make the cooking oil themselves and don't need China for that.
In a post on Truth Social, Trump said, "I believe that China purposefully not buying our Soybeans, and causing difficulty for our Soybean Farmers, is an Economically Hostile Act. We are considering terminating business with China having to do with Cooking Oil, and other elements of Trade, as retribution. As an example, we can easily produce Cooking Oil ourselves, we don’t need to purchase it from China."
The United States soya bean harvest is under way, and China, once the biggest buyer of American soybeans, hasn’t booked a single purchase, sending prices tumbling and farmers into panic.
The abrupt halt mirrors Beijing's previous use of rare earth exports as leverage in trade wars. Now, it's soybeans.
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