US-China tariff tensions accelerate shift to Brazilian soybeans
China’s soybean trade preferences are shifting in 2025 due to the ongoing tariff tensions. China — a key buyer of US soybeans — has retaliated with a 23% tariff on Washington’s oilseed exports, while also indicating a shift in trade flows toward competitive suppliers like Brazil. China’s soybean imports from the US over April-June dropped 19.5% year over year, similar to the volatility seen during Trump’s first term. Meanwhile, robust output in South America continues to weigh on prices while presenting a stable supply chain to offset tariff risks.
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