U.S. President Donald Trump urged Beijing to “quickly quadruple” its purchases of American soybeans, arguing that larger orders would help narrow China’s trade deficit with Washington and ease concerns over a domestic oilseed shortfall. The call, made on Trump’s Truth Social account late Sunday, comes two days before a U.S.–China tariff truce is due to expire on 12 August. The remark jolted commodity markets. The most-active soybean contract on the Chicago Board of Trade rose as much as 2.8 % in early Monday trading and was last up 2.13 % at $10.08 a bushel, its biggest intraday jump in four months. Prices for corn and wheat also firmed on the prospect of stronger Chinese demand. China imported about 105 million metric tons of soybeans last year, roughly 22 million tons from the United States and most of the remainder from Brazil. Analysts said meeting Trump’s four-fold target would require the world’s top soybean buyer to shift the bulk of its purchases to the United States, a scenario viewed as improbable. “It’s highly unlikely China would ever buy four times its usual volume from the U.S.,” said Johnny Xiang, founder of Beijing-based AgRadar Consulting. Whether increased agricultural purchases become a condition for extending the tariff cease-fire remains unclear. Negotiators from both countries have signaled they may prolong the pause that has kept levies well below the 145 % peak imposed earlier in the trade war, but no agreement has been announced.
Trump Urges China To Quadruple US Soybean Purchases To Address Their Shortage, Tackle Trade Deficit—Experts Say 'Highly Unlikely' https://t.co/y24ghIf3yd
Presiden AS Donald Trump mengatakan ia berharap China akan melipatgandakan impor kedelai dari AS. Baca di sini: https://t.co/MgR8sjP2r0 ~TA #Trump #China #Impor https://t.co/OCQkDDLlTG
Mike Chai aims to cut wage costs at his kitchen cabinet factory by about 30% to remain competitive against other Chinese firms, which have stopped selling to the US due to steep tariffs and are now coming after his long-time customers in Australia https://t.co/ZEmw6VqT9t