Why soybeans are at the heart of the U.S.-China trade war

China’s newly imposed tariffs against U.S. soybeans herald a major trade shift for a crop that’s soared to prominence in recent decades. While the Asian nation is targeting a slew of American farm goods in this round of taxes, soybeans are the top agricultural commodity the country imports from the U.S. by far. The oilseed, used to make cooking oil and animal feed, accounts for about 60 percent of the U.S.’s $20 billion of agricultural exports to China, reports Bloomberg.

Share

Leave a Reply

Your email address will not be published. Required fields are marked *