Soybean Market Gets Jittery About China After Trump’s Tariff Move
Trump Riles Asian Trade Partners With Tariffs
This article is for subscribers only.
After six consecutive days of weather-driven price gains, the rally in soybean futures in Chicago almost came to a halt Tuesday. One explanation may be the tariffs on imported solar panels and washing machines announced by President Donald Trump a day earlier.
China is the biggest maker of solar panels and expressed displeasure at the move. The country is also the largest buyer of U.S. soybeans, at a time when growing production and inventories have weighed on prices and intensified the battle between the U.S. and South America for market share. Could the crop get sucked into a China-U.S. trade dispute?