- Trump asks China to buy more U.S. soybeans
- China-US tariff truce deadline looms
- Analysts say quadrupling soybean orders is ‘highly unlikely’
Aug 10 (Reuters) - U.S. President Donald Trump on Sunday urged China to quadruple its soybean purchases ahead of a key tariff truce deadline, sending Chicago soybean prices higher, though analysts were quick to question the feasibility of any such deal.
In a late night post on Truth Social, Trump said China was worried about a shortage of soybeans and he hoped it would quickly quadruple its soybean orders from the U.S.
And that’s a really fun thing to do when you’re the sole supplier, but goes downhill fast when you’ve got competitors ready to take over your market. Trump probably fired anybody even mentioning the latter possibility.