Trump Threatens Trade Retaliation Against China Over Soybean Dispute, Markets React
Former President Donald TRUMP escalated trade tensions with China, accusing Beijing of an "economically hostile act" for halting U.S. soybean purchases. In a Truth Social post, he threatened to cut trade ties on cooking oil and other goods, claiming domestic production could replace Chinese imports. China, historically the largest buyer of U.S. soybeans, shifted sourcing to Argentina amid renewed trade war tariffs.
The political maneuvering coincided with a $20 billion U.S. currency swap for Argentina and a WHITE House meeting between Trump and President Javier Milei. Markets reacted sharply to the rhetoric, with the S&P 500 closing lower after volatile trading. The confrontation revives fears of 2018-style trade wars that previously roiled agricultural markets and global supply chains.
