If China were to impose a tariff on US soyabeans, imports from the US could drop by up to 71%, according to Purdue University. The Chinese government has also threatened retaliatory tariffs against American agricultural products if Washington imposes punitive tariffs. The study used an advanced version of the Global Trade Analysis Project model developed by the university and was conducted on behalf of the US Soybean Export Council.
If China were to impose a tariff on US soyabeans, imports from the US could drop by up to 71%, according to Purdue University. Under a 10% tariff on the US commodity, exports to China would fall by 33%, but in a 30% tariff scenario, Chinese imports of the grain would drop by 71%, making US exports of the product fall by 40%. The study used an advanced version of the Global Trade Analysis Project model developed by the university and was conducted on behalf of the US Soybean Export Council.