American Soy Beans in China – level 3
China is buying soy beans from the United States for the first time since the trade war began between the two countries in July.
According to the USDA (United States Department of Agriculture), China has purchased more than 1 million metric tonnes of soy beans as of December 14th. This may be a promising sign, but it is not nearly enough to make up for the losses that the American soy bean farmers endured during the trade war.
Until the trade war, China had taken in more than half of the annual US soy bean exports, but tariffs on US soy beans have driven down sales to China by 94% since the same time last year.
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