Trump Intensifies Trade Tensions with China Over Soybean Purchases
In a growing trade spat, Trump has threatened a cooking oil embargo against China as retaliation for its alleged boycott of U.S. soybeans. Accusing Beijing of purposefully not buying American soybeans, he has opened a new front in the ongoing trade war. This move comes amidst significant distress for U.S. soybean farmers, particularly in states like Minnesota and Missouri, who are struggling to cope with the impacts of the trade dispute. Farmers are increasingly calling for action as they face financial strain and consider the potential for a $10 billion aid package proposed by Trump. Meanwhile, the agricultural sector braces for further repercussions as the situation escalates, with U.S. farmers expressing concern about their reliance on the Chinese market.
CNBC, Axios, Bloomberg.com, CBS News, "Barrons", Reuters, PBS, DW, 5 EYEWITNESS NEWS, Al Jazeera