Trump Urges China to Quadruple U.S. Soybean Purchases
Former U.S. President Donald Trump said on his social media that China should buy four times more American soybeans. He believes this would help reduce China’s trade surplus with the U.S. and give a big boost to American farmers.
His statement comes as China—the world’s biggest buyer of soybeans—is trying new ways to get soybean products while its economy slows down. According to Bloomberg, China has started selling soybean oil and is testing buying soybean meal from Argentina. This shows it may be changing how it usually buys soybeans.
Last year, China bought around 100 million metric tons of soybeans, and about one-third came from U.S. farmers. If China really does buy four times more from the U.S., it would be a major change and could bring billions of dollars to American farming communities.
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