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President Donald Trump has been upset due to non -sale of soybeans of American farmers. Trump said that Soybean farmers of America are in difficult conditions, because China is not buying soybean from them. For this reason, farmers are suffering heavy losses.
Trump said on Wednesday that he was going to meet Chinese President Xi Jinping within the next 1 month. The biggest issue in this meeting will be on soybean. Trump wrote on his Truth social that China is stopping the purchase of soybeans only to talk.
Trump wrote on his social media platform Truth Social-
Biden accused of not implementing the deal
Trump also criticized former President Joe Biden, as the trade deal was not implemented in his time, under which China had to buy billions of $ billions of US agricultural products.
In fact, in 2020 there was a phase one deal between Trump administration and China. Under this, China promised to buy large amounts of agricultural products from the US such as soybean, maize, wheat, meat.
Its purpose was to benefit American farmers and maintain trade balance between the two countries.
Trump claimed that the Biden administration did not try to implement the deal. (File photo)
Why is the matter stuck on soybean?
There was a tariff war between the US and China earlier this year. The US imposed 145% tariff on China. In response, China imposed 125% tariff. However, after the talks between the two countries, the US reduced it to 30%.
On the other hand, China imposed a 20% extra tariff on American soybean, which is still going on. China is the largest market for Soybean for America. Now he is unable to sell his soybean in China. Brazil and Argentina are now selling their soybeans to China instead of America.
The US promised to help Argentina on 22 September. On the same day, Argentina lifted tax on several major crops including soybean. After this, Chinese companies bought more than one million tonnes of Argentina soybean, which reduced the purchase from America.
The income of farmers and exporters of Brazil and Argentina has increased due to China’s increasing demand.
US minister’s message viral
A picture related to the problem of soybean in America is becoming quite viral. It was drawn by Associated Press photographer Angelina Catsanis. In this, US Finance Minister Scott is seen reading the message of Agriculture Minister Brook Rollins at Besant UN.
It is written in the message- finally I have got a information which is very sad. We gave financial assistance to Argentina yesterday and in turn, Argentina is removing its export duty on grains, lowering its prices, and selling a large part of soybean to China.
Rollins warned that the moves of Soya are falling further by the move, and it is giving China a chance to take a more lead over the US.
In the last of the message, it was written, “I am on the plane but Scott, I can call you when I get down.”
Soybean farmers’ condition worsened in America
According to the report of the Associated Press, the situation of the US soybean farmers is very bad at this time. They have the crop ready, but they are not getting a place to sell.
Its biggest is that China, which has been the largest buyer of American soybean, has now stopped purchasing.
The report stated that the US is ready to harvest soybean, but farmers do not know where they will sell their crops.
According to the New York Times report, last year the US sold soybean $ 12.6 billion (Rs 1 lakh crore) to China. This is 52 per cent of the total soybean exports of the US. But after May this year, China has not bought soybeans from America.
The closure of China’s purchase has given direct economic pressure to American farmers. Their big market has suddenly stopped, and this has also affected their income.
The US sells more than half of soybeans between October and December. This is the reason why Xi Jinping is planning a meeting with Xi Jinping as soon as possible.
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