U-S Trade Representative Jamieson Greer says retaliatory tariffs on China are likely here to stay. During a visit to the Iowa State Fair, Greer noted the tariffs President Trump imposed on China in his first term were kept in place throughout President Biden’s four years in office and are in force today.
China’s president committed this spring to buy 25 million metric tons of U-S soybeans each year through the end of Trump’s term. Greer says China has so far purchased between four-and-five million metric tons.
China’s latest pledge to buy U-S soybeans is closer to their purchasing pattern from a decade ago. During Trump’s first term, Chinese imports of U.S. soybeans decreased from nearly 33 million tons in 2017 to about 16-and-a-half million tons in 2018.
