Trump "Considering suspending cooking oil trade with China…Measures to protect U.S. soybean farms"
JH Kim
Summary
- President Trump indicated a possibility of suspending cooking oil trade with China.
- He said the measure aims to protect U.S. soybeans and respond to harm to U.S. farmers.
- Experts said the trade suspension could affect the global agricultural and commodity markets.
Donald Trump, the U.S. President, hinted at the possibility of suspending cooking oil trade with China.
President Trump said on the 14th (local time) via his social media 'Truth Social' that "China is deliberately avoiding purchases of U.S. soybeans and harming U.S. farmers," adding, "this is a clear act of economic hostility."
He added, "As a response measure, we are considering suspending trade with China on some items, including cooking oil."
The remark came as the Trump administration is stepping up trade pressure on China. Experts say that if this measure is actually implemented, it could have considerable repercussions for the global agricultural and commodity markets.
JH Kim
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