US President Donald Trump imposed an additional 145 percent. Dutch for all Chinese imports. China is not inferior and simply admit that they will “fight to the end” if Trump continues to escalate what is already becoming a full trade war. On Friday, China also significantly increased their own duties on imports from the USA to this country.
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According to CNN analysis, China's largest import from the United States – soy – can be satisfied elsewhereand thus can seriously lose American farmers.
Both countries are deeply related to trade, although China sells about three times more to the USA than they buy. The result is a significant commercial deficit of almost $ 300 billion. in favor of China. Trump wants to eliminate this gap with duties.
As CNN explains, China mainly buy agricultural products from the USA, including soy, oily seeds and cereals. Soy import, used mainly as animal feed, He already suffered during the first term of Trumpwhen both countries argued during an earlier trade war.
This group of entrepreneurs voted mainly for Trump. Now they can lose a lot on the duties
According to analysts, on which CNN cites, The current US trade war with China can cause the Chinese import of American agricultural goods – such as soy – will be close to zero. According to American Soybean Association, the American agricultural sector lost about $ 27 billion. During the trade war in 2018, with 71 percent The losses were associated with soy.
Soy exports from the USA to China are currently covered by a total customs of 135 percent, resulting from 10 percent. duties applied to some agricultural products in March and 125 percent fees announced last Friday.
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As CNN notes, In eight out of 10 states, which are the largest soy producers in the USA, Donald Trump won last year's presidential election. Only Illinois, the largest soybean producer (17.7 million tons), and Minnesota, the third largest state producing Soy (9.5 million tons), chose the former vice president of Kamala Harris. Farmers only from the five states conducive to Trump produce respectively:
- Iowa – 15.6 million tons of soy,
- Indiana – 9.1 million tons of soy,
- Ohio – 7.5 million tons of soy,
- Nebraska – 7.3 million tons of soy,
- Missouri – 7.2 million tons of soy.
As CNN emphasizes, Farmers from the United States who chose Trump in the 2024 elections are still struggling with the consequences of the First Trade War with China.
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During the first trade war between the United States and China, Brazil turned out to be the winner, and Chinese import of legumes increased over the years. The export of Brazilian soy to China increased by over 280 percent. since 2010, while exports from the US remained unchanged.
In November last year, XI went to a state visit to Brazil, which was aimed at strengthening the bond between the two countries. In 2024, China was the main recipient of Brazilian soy, responsible for over 73 percent. complete exports of soy from this country.
