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China state-media editor vows soyabean retaliation | KRVN Radio

China state-media editor vows soyabean retaliation

China state-media editor vows soyabean retaliation

US soyabean exports will be targeted if the Trump administration imposes further tariffs on China, said Hu Xijin, editor of nationalist tabloid the Global Times, which is controlled by the Chinese Communist party mouthpiece the People’s Daily. “I’m sure if Trump imposes high tariffs on imported products from China, the backlash will first come to American soybeans worth over $10 billion sold to China every year. This is no casual comment. Please read tomorrow’s Global Times for further information,” Mr Hu, who often writes the paper’s editorials, said on Twitter. While not directly expressing official Chinese Communist party opinion, Mr Hu’s editorials are often seen as reflections of the more bellicose end of policy positions under consideration by Beijing, and are sometimes written as a way of gauging international reaction to potential policies. With China the biggest buyer of US soyabeans — accounting for about 60 per cent of total exports last year, worth $12.4bn — the American Soybean Association last week said it was concerned about a potential trade war, and requested a meeting with President Trump. But analysts have suggested that China would be unable to quickly diversify its soyabean imports away from the US, because its other main supplier, Brazil, lacks sufficient stocks. Its domestic production is far below its soyabean needs, mostly for animal feed.

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