Trump announces trade discussions with China on soybeans

Beijing, which is costing American farmers billions in losses. “Our country’s soybean farmers are suffering because China, for ‘negotiating’ reasons, is not buying,” Trump said. Reuters reported. Fall is a key marketing season for U.S. soybeans, when farmers harvest their fresh crop. But China, the world’s largest soybean importer, has switched to South American supplies, pushing down U.S. soybean prices. No specific timeline for resuming U.S. soybean purchases was given after a briefing with U.S. Ambassador to China David Perdue, said Sen. John Hoeven, a Republican from North Dakota. “He didn’t say the sales would happen anytime soon. It was more about keeping the pressure on until we get the contracts and supporting our farmers,” Hoeven said. Trump also reiterated his promise to use tariff revenue to support farmers. He said last month that he had spoken by phone with Xi Jinping and agreed to meet in person in South Korea in late October on the sidelines of the Asia-Pacific ...