Each fall, US farmers harvest a ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#SME#href” href=”https://economictimes.indiatimes.com/topic/soybean” target=”_blank”>soybean crop so immense, it covers more acres than Arizona. But this year, their biggest buyer — ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#SME#href” href=”https://economictimes.indiatimes.com/topic/china” target=”_blank”>China — has walked away.
Beijing imposed retaliatory tariffs on US farm goods in March, effectively slamming the door shut on US soybean imports for commercial buyers before the harvest even began. The move has given China leverage in its trade war with President Donald ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#SME#href” target=”_blank” href=”https://economictimes.indiatimes.com/panache/panache-people-101/donald-trump/profileshow/79057526.cms”>Trump by squeezing the farmers who form a key part of his base. A country that last year purchased $13 billion of US beans — more than 20% of the…
