Beijing: The ongoing US-China trade tensions have severely backfired on American agriculture, with farm exports to China plummeting by 53%, according to Reuters.
Soybean exports alone dropped by 51%, allowing Brazil to cash in billions as it filled the supply gap left by US producers. The decline comes after former President Donald Trump’s tariffs prompted Beijing to impose a 15% levy on $21 billion worth of American agricultural goods.
Chinese Ambassador to the US, Xie Feng, criticized the politicization of trade, stating, “Agriculture should not be hijacked by politics, and farmers should not be made to pay the price of a trade war.” Analysts warn that prolonged trade frictions may further weaken US farmers’ global market share while strengthening competitors in Latin America.
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