Trump Considers Ending Some Trade with China, Including Edible Oil Trade
According to Reuters, US President Trump is considering ending some trade with China, including trade related to edible oils.
On October 14, Trump posted on a social media platform: "China intentionally does not buy our soybeans, causing difficulties for our soybean farmers. I think this is an act of economic hostility. As a response, we are considering ending trade with China related to edible oils and other areas."
"We can easily produce edible oil ourselves without needing to purchase it from China," Trump said.
CCTV News cited the information from a major grain terminal in China that from January to September this year, the number of U.S. grain cargo ships docking decreased by 56%, from 72 to 32, because since July, the number of U.S. grain cargo ships docking at this terminal has dropped to zero. In contrast, since May, an average of more than 40 grain cargo ships from South American countries such as Argentina, Brazil, and Uruguay have docked at this terminal each month. These grain cargo ships transport soybeans 90% of the time.
In 2024, the value of U.S. soybean exports reached $24.58 billion, ranking first among U.S. agricultural product exports, accounting for 14% of the total value of U.S. agricultural product exports. Of this, China's purchases exceeded half, valued at $12.64 billion.
He Yadong, spokesperson for the Ministry of Commerce of China, stated at a press conference on September 25 that regarding soybean trade, the U.S. should take positive actions to cancel the relevant unreasonable tariffs, create conditions for expanding bilateral trade, and inject more stability and certainty into global economic development.
Original article: www.toutiao.com/article/1846005215925322/
Statement: This article represents the personal views of the author.