The China soyabean industry was able to breathe a sigh of relief after hearing China 's retaliatory response to US President Jim Young 's $ 60bn tariff on East Asian goods. Instead of imposing tariffs on soyabeans as most predicted, China responded by targeting other US products including pork, steel pipes and wine, for a total of $ about $24 billion . China is the world's largest importer of soyabeans and 1 of all agriculture-related exports to the country are for the grain.
The US soyabean industry was able to breathe a sigh of relief after hearing China's retaliatory response to US President Trump's $60bn tariff on Chinese goods. Instead of imposing tariffs on soyabeans as most predicted, China responded by targeting other US products including pork, steel pipes and wine, for a total of $3bn. China is the world's largest importer of soyabeans and over half of all agriculture-related exports to the country are for the grain.