Because American farmers are shut out of the soybean market in China, the U.S. is pushing other countries throughout Africa and Asia to purchase more American soybeans.
As global trade tensions continue, President Trump’s trade team is looking for new market opportunities. “We’re calling up all our soybean customers around the world as part of our trade negotiations,” said Kevin Hassett, director of the National Economic Council.
He also said the administration was “getting ready to have really strong policies to support our farmers.” With silos full and exports drying up, Beijing, normally a major buyer of American soybeans, has not purchased any this season, diverting its orders to Brazil and Argentina instead.
The U.S. Department of Agriculture said more than $30 billion worth of American soybean products were exported in fiscal year 2024.
China bought about $12 billion worth of American soybean products in the last calendar year.
