US President Donald Trump said on Wednesday that soybeans would be a major topic of discussion when he meets with Chinese President Xi Jinping in four weeks. “The soybean farmers of our country are being hurt because China is, for ‘negotiating’ reasons only, not buying,” Trump wrote on Truth Social.
Chinese importers have not yet bought soybeans from the autumn US harvest during the trade war between Washington and Beijing, costing US farmers billions of dollars in lost sales.
Autumn is the prime marketing season for US soybeans as farmers bring in fresh crops from their fields. However, China, the world’s top soybean importer, has turned to South America for supplies instead, pressuring US soybean prices.
US Senator John Hoeven of North Dakota, a Republican, said he did not think there