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China retaliation on US farm goods hits soybeans, bolstering Brazil

Trade war will result in China moving towards alternative agriculture suppliers including Brazil. China is imposing additional duties of 34% on all US goods (on top of the 10%-15% tariffs) placed on US$21 billion worth of agricultural products, effectively closing doors on all US agricultural imports. The main impact will be on products like soybeans and sorghum, not so much on wheat and corn as China has not been buying much of wheat and corn from the US in 2025. EU is likely to put tariffs on US soybeans, leading to product substitution to others such as palm oil.

Source: The Edge

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