For the first time since President Trump triggered a trade war with China, the People’s Republic erased no US soybeans at all in November. Per Reuters, China,” that’s the world’s largest soybean purchaser, has switched into Brazil’s growers alternatively afterwards China put a 25% tariff on US imports in a reaction to US tariffs on their goods. Reuters reports that US soybean sales to China accounted for trade worth about $12 billion in 2017.
Per Quartz, China purchased about 5 thousand metric tons of soybeans from Brazil last 30 days, or around twice exactly what it purchased from the South American state on November 2017. Last month, China and the united states reportedly agreed to a 90-day window at which they would discuss provisions of raising tariffs and China commenced buying US soybeans back in early December.