Trump accuses China of an “economically hostile act” for not buying US soybeans
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Trump accused China of committing an “economically hostile act” after Beijing stopped buying U.S. soybeans, escalating tensions in a trade fight that’s already spreading across agriculture, shipping, and energy. In a fiery post on Truth Social, he wrote: “I believe that China purposefully not buying our Soybeans, and causing difficulty for our Soybean Farmers, is an Economically Hostile Act. We are considering terminating business with China having to do with Cooking Oil, and other elements of Trade, as retribution. As an example, we can easily produce Cooking Oil ourselves, we don’t need to purchase it from China.” China has been the largest buyer of U.S. soybeans for years, importing about 27 million metric tons valued at roughly $12.8 billion in 2024.But since May, Beijing has refused to purchase a single shipment. The halt came as the trade war between Washington and Beijing heated up again, with tariffs driving prices higher for Chinese importers.Instead, China began sourcing soybeans from Argentina and other South American producers. Coincidentally, Argentina lifted export taxes on the same day Trump’s administration announced a $20 billion currency swap with Buenos Aires. Hours later, Argentina’s President Javier Milei visited Trump at the White House. By the end of the day, the U.S. president had unleashed his public rebuke against China. Markets drop after Trump’s trade warning The timing of Trump’s post sent markets tumbling. The S&P 500 fell sharply by the end of the day, closing lower after a volatile session. Traders were already on edge following Trump’s warning on Friday that he would raise tariffs on Chinese imports in response to Beijing’s new export controls on rare earth minerals. Hours after that threat, he said he would impose an additional 100% tariff on Chinese goods starting November 1. But by Sunday, he changed tone, posting, “Don’t worry…
Filed under: News - @ October 15, 2025 1:26 am