Former US President Donald Trump has once again escalated trade tensions with China. In a recent rally, he threatened harsh trade retaliation against China, alleging that Beijing is deliberately harming US farmers by reducing purchases of US soybeans.
Trump said that if he returns to power, he will impose new tariffs and tough trade policies on China to protect the interests of American farmers.
“China has taken advantage of our farmers for many years,” Trump said. “If they don’t buy our soybeans, they’re going to have to pay for it.”
U.S. soybean exports have long been a key part of the U.S. trade relationship with China, but in recent months China has reportedly been reducing its imports of U.S. soybeans and buying more from other countries, including Brazil.
After farmers suffered huge losses in the US-China trade war that began during Trump’s presidency in 2018, economists have warned that Trump’s threats could once again destabilize global grain markets. Although relations have somewhat normalized since the “Phase One Trade Deal,” the situation has become more complicated again recently.
There has been no official response from China to Trump’s remarks, but analysts say China could diversify its soybean imports in the future to reduce its dependence on the United States.
Trump’s tough stance ahead of the 2024 election is seen by many as an attempt to attract rural voters, as farmers have been one of his strongest support groups in the past.
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