Just a few weeks after rising trade tensions with the Trump administration prompted China to stop purchasing soybeans from American farmers, China has turned to a new supplier — Russia.
Bloomberg reports that China is the world’s largest importer of soybeans. While the United States is the biggest producer of soybeans, China has tripled its purchases of Russian soybeans in the wake of trade tension with the U.S. Brazil is also expected to take up much of the Chinese market previously filled by American soybeans.
According to Missouri Farm Bureau President Blake Hurst, China has historically accounted for a fourth of the market for Missouri soybean farmers. Missouri farmers have voiced serious concerns about retaliation by international trading partners in response to President Trump’s steel and aluminum tariffs. Hurst said thanks to the tariffs, “a lot of Missouri products are getting hammered.”
Missouri Senators Roy Blunt and Claire McCaskill have repeatedly expressed concern over the impact of the President’s tariffs on Missouri farmers and ranchers. But U.S. Senate candidate and Missouri Attorney General Josh Hawley has said he supports the President’s trade war.