Impact of Chinese retaliatory tariffs on American Commodities
President Donald Trump has increased duties on China twice since taking office less than two months ago. This week, China imposed retaliatory tariffs on more than $22 billion of agricultural exports.
As you can see on this chart, soybeans accounted for nearly one-half of U.S. agricultural exports to China, totaling over $12 billion in 2024. China is the world’s largest soybean importer, accounting for nearly 60% of global trade and half of U.S. soybean export value.
Grains are the second highest U.S. ag product imported to China, totaling a value of nearly $3 billion.
Meat followed, valued at about $2.5 billion.
The United States logged record export values to China for key ag commodities in 2021-22, but China has been diversifying its sources for farm imports since.
While the retaliatory duties will push a shock through the industry in the short term, some in the ag community are willing to accept the sting for long-term correction with trading partners.
Oliver Ward has more in his story on Agri-Pulse dot com.
To learn more about "Map it Out" and "Ag By the Numbers," check out our Newsmakers show.
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