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Friday, May 4, 2018

China Ramps Up Trade War With U.S.


According to a report by Business Insider, China has signaled that it won't back down from a trade battle with the United States. In a Bloomberg interview, the CEO of one of the largest soybean processors in the world claimed that China has effectively ended purchases of US soybeans, a crucial export crop. Soybeans are an important agricultural export for US farmers, and China is the crop's main destination. According to the US Department of Agriculture, 61.2% of total US soybean exports worth a staggering $14.2 billion went to China in 2016. According to the USDA, soybeans are the United States' most valuable agriculture export, making up roughly 9% of all US exports by value. https://ift.tt/2HMyqFh http://www.wochit.com This video was produced by YT Wochit News using http://wochit.com

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