During the summit between Donald Trump and Xi Jinping, the United States and China agreed to lower tariffs on 30 billion dollars worth of goods in each direction. China’s list covers 1,619 U.S. products, but bulk commodity soybeans, essential for American farmers, were excluded. In 2018, China’s 25% retaliatory tariffs on U.S. soybeans caused 9.4 billion dollars in losses for producers, including 1.2 billion for Iowa and 1.3 billion for Illinois. China is diversifying its supply sources toward Brazil, which already provides 71% of its soybean imports, maintaining a negotiating lever for future trade talks.
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