Trump's trade agenda has a new flashpoint: The humble soybean

The news focuses on the soybean trade as a key element in the Trump administration's efforts to reshape global trade, highlighting its impact on U.S.-China relations and American farmers.

Soybeans are a major U.S. agricultural export, valued at over $30 billion in fiscal year 2024, and have consistently been more significant than crops like corn or cotton, with China historically serving as the top overseas market by purchasing around $12 billion worth annually.

However, due to the trade war under President Donald Trump, China has halted all purchases of U.S. soybeans during this year's main harvest period, with sales plummeting to zero in May, pushing many American soybean farmers to the brink of financial crisis.

This disruption has further complicated the Trump administration's plans to provide billions in foreign economic aid to Argentina, as Buenos Aires recently sold over 2.5 million metric tons of soybeans to China after temporarily suspending its export tax on these products.

U.S. officials attribute the looming crisis for American soybean producers to China's actions in the trade conflict.