China wants to stop buying American soybeans entirely
Hong Kong (CNN Business)First, Beijing slapped tariffs on American soybeans. Now, it wants to wean its farmers off them altogether.
China has been facing a potential soybean shortage after it put a new 25% tariff on importing them from the United States in July, part of the escalating trade war between the two countries.
China is the world’s biggest buyer of soybeans, using them as a protein-rich feed for livestock such as pigs and chickens. More than a third of its supply comes from the United States.
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