With just one and a half months to go before the year ends, China still hasn’t ramped up purchases of U.S. soybeans under a trade agreement made with Donald Trump a few weeks ago.
After he met with Xi Jinping at a regional economic summit in South Korea, the White House said Beijing committed to buying at least 12 million metric tons of U.S. soybeans during the final two months of 2025 and buying at least 25 million tons annually in 2026, 2027, and 2028.
That’s after China hadn’t placed any orders for U.S. soybeans this harvest season amid the trade war with Trump, creating panic among farmers who had relied on the world’s second largest economy as their top export market.
Meanwhile, Beijing has turned to Brazil and Argentina for soybeans, which are also cheaper as they don’t face retaliatory Chinese tariffs. Now, China has imported so much supply from South America it has a glut of soybeans.
Yet another example of so-called “free market economics”. Amazing how the USA cries foul when China legitimately decides to buy soy beans from a BRICS country because of Taco’s ridiculous tariffs. Trump’s economic illiteracy is not China’s problem. It has many other partnerships in the world. If the west didn’t want the Chinese economy outgrowing it’s own then perhaps the greedy capitalists shouldn’t have outsourced their production to Chinese cheap labour. But capitalism == greed and exploitation, so no surprise. You’ve made your bed, now lie in it.