FX.co ★ Trump Urges China to Boost Soybean Buys as Tariff Truce Near Ends

On Monday, President Donald Trump called on China to significantly boost its purchases of U.S. soybeans, suggesting it as a potential strategy for reducing the trade deficit between Beijing and Washington. He posted on Truth Social, stating, "China is concerned about its soybean shortage. Our exceptional farmers cultivate the most excellent soybeans. I hope China will swiftly increase its soybean orders fourfold. This is also a means to significantly lower China’s Trade Deficit with the USA. Rapid service will be provided. Thank you, President Xi." His comments came amid rising tensions between the U.S. and China just before the expiration of their tariff truce on Tuesday, which raised the possibility of re-imposed higher tariffs. Concurrently, Bloomberg News noted that China is discreetly transforming its soybean trade in response to an economic slowdown, marking its first soybean oil exports in years due to diminished domestic demand and high biodiesel prices, while experimenting with soybean meal imports from Argentina to reduce the domestic processing of raw beans into animal feed.