China Imports No Us Soybeans in September for First Time in Seven Years
Posted3 months agoActive3 months ago
reuters.comOtherstory
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Trade RelationsAgricultural ExportsUs-China Relations
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Agricultural Exports
Us-China Relations
China has not imported US soybeans in September for the first time in seven years, highlighting ongoing trade tensions between the two countries, with commenters discussing potential implications for US farmers and the broader trade relationship.
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So I'd say that 77 million people were calling for a trade war. And here we are, getting what we asked for.
Reuters doesn't feel it's worth mentioning so probably just random fluctuations in the market or a previous Trump trade war, something like that of no relevance to the current situation and so best ignored.
Here's an economics paper summarising and putting dollar values on the fallout that time:
https://www.sciencedirect.com/science/article/abs/pii/S03069...
Estimating the market effect of a trade war: The case of soybean tariffs
* In 2018, China levied a 25% retaliatory tariff on U.S. soybean exports.
• That tariff led Chinese buyers to favor Brazilian soybeans.
• We estimate the tariff lowered U.S. prices at the Gulf by $0.74/bu on average for about five months.
• USDA’s trade aid payments for soybean damages summed to $3.70 for 2 bushels over two years.
•We project that USDA’s trade aid to soybean producers exceeded the tariff damage by about $5.4 billion.