Only a week ago, China bought enough soybeans from Argentina to fill twenty cargo ships. Now, Treasury Secretary Scott Bessent the U.S. will offer financial support to Argentina to help prop up its failing economy.
American soybean farmers are outraged because Argentina is a huge competitor of ours in the world soybean market. To make things worse, the United States is offering to financially help Argentina, and they, Argentina dropped 100% of the tariffs and taxes on soybeans to China.
It gets worse. A spokesman from the Chinese commerce ministry said if the U.S. wants to do business, it should remove tariffs and help expand trade. China, the world’s biggest soybean buyer, and hasn’t bought any soybeans from the U.S., but they are complaining of unreasonable tariffs.
Here's John Jenkinson's Ag Minute.