Action from China on US soybeans has been described as China's 'nuclear option' on trade
- China imports around 60% of soybeans traded worldwide
- Brazil accounts for more than 50% of China's soybean imports
- US around 34%
A US Soybean Export Council executive is quoted on Reuters saying the country is still considering action on curbing imports from the US
- The exec met with China's agriculture minister this week
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Trade issues are still simmering. Tariffs on US soybeans would be a direct imposition on farming states and base support of President Trump. One way of looking at this is if you are going to get into a fight with a big guy you may as well land a hard kick in his nuts early. Fight over, right there.
