China buys US soybeans after declaring ban on American farm goods

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CHICAGO: China snapped up a small volume of US soybeans last week after pledging to halt purchases of American farm products due to the escalating ...

in the latest escalation of the trade war between the world's two largest economies.

China last year imposed retaliatory tariffs that remain in place on imports of US farm products including soybeans and pork. The duties have slashed exports of US crops and prompted the Trump administration to compensate American farmers for losses over two years with as much as US$28 billion. "Compared to what they used to buy, they essentially have halted - but some have gotten through," Suderman said.

 

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