Economics
The Latest Winner From the U.S.-China Trade Fight: Canada
- Country ships record amount of soybeans to China in January
- U.S. cargoes shrink to a fraction of what they were last year
Photographer: Daniel Acker/Bloomberg
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While the China trade war has clobbered U.S. farmers, it’s been a boon for their northern neighbors.
Canada’s shipments of soybeans to China, the world’s largest buyer, surged to a record 1.23 million metric tons last month, more than four times the amount a year earlier, and up from just over 800,000 tons in December, according to data from the General Administration of Customs on Tuesday. Imports from the U.S. collapsed to 136,000 tons from 5.8 million tons in January last year.