US soybean sales to China down 94 percent amid Trump tariffs
U.S. soybean exports to China are down by 94 percent this year amid President Trump's trade war with Beijing.
The New York Times reported Monday that the latest federal data, which tracked up to mid-October, showed a dramatic drop in sales to China, which is by far the world's biggest soybean importer.
However, federal data through September show that soybean exports are up 1 percent over all this year above where they were at this time in 2017.
Eighty-seven percent of the reported 110 million tons of soybeans China consumed in 2017 were imported, largely from the U.S. or Brazil.
Though many soybean farmers expressed trust in Trump and his protectionist trade agenda, others told the Times that they were unhappy with the effect Beijing's retaliatory tariffs have had on their business.
“I’m trying to follow and figure out who the winners are in this tariff war,” said Greg Gebeke, who farms 5,000 acres outside of Arthur, N.D. “I know who one of the losers are and that’s us. And that’s painful.”
https://thehill.com/policy/finance/415028-us-soybean-sales-to-china-down-94-after-tariffs
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