China Strikes at Trump's Rural Heartland With Tariff on Soybeans
- China is top U.S. soybean buyer in trade worth $14 billion
- Soybean prices tumble most in almost two years in Chicago
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China has taken aim at America’s rural heartland as the top buyer of U.S. soybeans said it would restrict imports.
China’s Ministry of Commerce on Wednesday said it plans to impose 25 percent duties on the commodity in addition to other U.S. agricultural produce including wheat, corn, cotton, sorghum, tobacco and beef. They’re among 106 products ranging from aircraft to chemicals targeted by Beijing in retaliation for proposed American duties on its high-tech goods.