From $12.6B to Zero: China Stops Buying American Soybeans

American farmers have been hit hard after China completely stopped purchasing soybeans from the United States. Just last year, Beijing bought $12.6 billion worth of soybeans, but this year the figure has fallen to zero. The move came after China imposed retaliatory tariffs in response to measures by President Donald Trump’s administration. 

This was reported by "The New York Times"

China was the largest buyer of U.S. soybeans, accounting for more than half of all exports. The sudden halt in contracts has already impacted prices and forced farmers to seek alternative markets. Instead, China has turned to Argentina and other suppliers, reducing its reliance on American imports.

The situation is causing deep concern among U.S. farmers and policymakers, as excess stockpiles may drive domestic prices down and lead to major losses. Farmers are urging the government to take decisive steps in negotiations with Beijing to restore access to one of the world’s biggest markets.