Brief by Shorts91 Newsdesk / 04:59am on 02 Oct 2025,Thursday International
President Donald Trump announced plans to discuss US soybean purchases with Chinese leader Xi Jinping during their meeting at the Asia-Pacific Economic Cooperation summit in South Korea starting late October. American soybean farmers face significant losses as China hasn't purchased US soybeans due to 20-percent retaliatory tariffs imposed after Washington's tariff war earlier this year. The American Soybean Association reports zero US sales to China in the new crop marketing year, allowing Brazil and Argentina to capture the market. ASA President Caleb Ragland called the situation "overwhelming" for farmers. Trump plans using tariff revenues to aid farmers while criticizing predecessor Joe Biden for not enforcing earlier trade agreements requiring increased farm purchases.
