Latest news with #PresidentXi
Reuters
21 hours ago
- Business
- Reuters
US soybean prices jump after Trump urges China to quadruple orders
Aug 11 (Reuters) - U.S. soybean prices soared to a two-week high on Monday after President Donald Trump urged China to quadruple its purchases ahead of a tariff truce deadline, though analysts questioned the feasibility of any such deal. China, the world's biggest soybean importer, has not yet pre-purchased soybeans from the upcoming U.S. harvest amid trade tensions with Washington, an unusual delay that has fuelled concerns among U.S. farmers and traders as the harvest export season approaches. "Rapid service will be provided. Thank you President XI," Trump said in a late-night Sunday social media post. A tariff truce between Beijing and Washington was set to expire on Tuesday, but Trump signed an executive order extending the tariff deadline by 90 days, a White House official said on Monday. The most active soybean contract on the Chicago Board of Trade jumped 2.4% to $10.11-1/4 a bushel. China imported roughly 105 million metric tons of soybeans last year, with just under a quarter coming from the U.S. and most of the remainder from Brazil. Quadrupling shipments would require China to import the bulk of its soybeans from the U.S. China imports the oilseed to crush it into soymeal for livestock feed. After record imports earlier this year, traders said a glut of soymeal in China would likely reduce Chinese demand for soybeans. "It's highly unlikely that China would ever buy four times its usual volume of soybeans from the U.S.," said Johnny Xiang, founder of Beijing-based AgRadar Consulting. It was unclear whether the U.S. secured any commitment by China to buy more U.S. soybeans as a condition for the truce extension, as Trump looks to reduce China's trade surplus with the U.S. China's soymeal futures fell 0.65% to 3,068 yuan per metric ton on expectations that U.S. imports could increase supply. The United States faces fierce competition for soybean sales to China from Brazil, the world's biggest exporter. U.S. sales would suffer if China keeps a tariff on American soy, said Gary Vetter, who raises crops and cattle in Westside, Iowa. "They're going to go to their cheapest producer," he said, referring to China. U.S. farmers largely backed Trump in his campaigns to become president and said they appreciated his social media post, even if it does not immediately increase export sales. "He is trying to support the United States," Vetter said. China's Ministry of Commerce did not immediately respond to a Reuters request for comment. During the first Trump administration, a trade war with China hurt U.S. soybean growers as China shifted purchases toward Brazil. In the years since, China has looked to ramp up crop imports from South America and is developing a port in Chancay, Peru. Under the Phase One trade deal that China signed to end the trade war, Beijing agreed to boost purchases of U.S. agricultural products, including soybeans. However, Beijing fell far short of meeting those targets. "They certainly don't have the room to buy multiples of U.S. bean imports," financial firm Marex said. China started importing U.S. soybeans in 1995, and the country typically begins booking post-harvest purchases much earlier in the year. This year is the longest that China has avoided booking soybeans from the autumn harvest since at least 2005, according to U.S. Department of Agriculture data and interviews with exporters. "On Beijing's side, there have been quite a few signals that China is prepared to forego U.S. soybeans altogether this year," said Even Rogers Pay, an agricultural analyst at Trivium China. Reuters previously reported that Chinese feedmakers have purchased three Argentine soymeal cargoes as they aim to secure cheaper South American supplies. The U.S. soybean industry has been seeking alternative buyers, but no country matches China's scale. Last year, China imported 22.13 million tons of soybeans from the U.S., and 74.65 million tons from Brazil, according to Chinese data. "We're all working to diversify away from China, but China is critically important for us," said Jim Sutter, CEO of the U.S. Soybean Export Council. "So we've been encouraging the U.S. government to work with China to try and get another agreement in place."
Argaam
a day ago
- Business
- Argaam
Trump pauses US-China tariff truce another 90 days
US Donald Trump has once again delayed implementing sweeping tariffs on China, announcing another 90-day pause just hours before the last agreement between the world's two largest economies was due to expire. On Monday, Trump signed an executive order extending the deadline for higher tariffs on China until Nov. 9, CNBC reported, citing White House officials. 'We'll see what happens,' Trump told reporters at the White House. 'They've been dealing quite nicely – the relationship is very good with President Xi and myself.'
Reuters
a day ago
- Business
- Reuters
Trump urges China to quadruple soybean orders
Aug 10 (Reuters) - U.S. President Donald Trump on Sunday urged China to quadruple its soybean purchases ahead of a key tariff truce deadline, sending Chicago soybean prices higher, though analysts were quick to question the feasibility of any such deal. In a late night post on Truth Social, Trump said China was worried about a shortage of soybeans and he hoped it would quickly quadruple its soybean orders from the U.S. "Rapid service will be provided. Thank you President XI," Trump said in his post. The most active soybean contract on the Chicago Board of Trade (CBOT) jumped 2.38% to $10.11 a bushel at 0637 GMT on Monday after Trump's post. The contract was steady earlier. China, the world's largest soybean buyer, imported roughly 105 million metric tons last year, just under a quarter coming from the U.S. and most of the remainder from Brazil. Quadrupling shipments would require China to import the bulk of its soybeans from the U.S. "It's highly unlikely that China would ever buy four times its usual volume of soybeans from the U.S.," said Johnny Xiang, founder of Beijing-based AgRadar Consulting. A tariff truce between Beijing and Washington is set to expire on August 12, but the Trump administration has hinted that the deadline may be extended. It is unclear if securing China's agreement to buy more U.S. soybeans is a condition for extending the truce as Trump looks to reduce China's trade surplus with the U.S. China's soymeal futures fell 0.65% to 3,068 yuan per metric ton on expectations U.S. imports could increase supply. China's Ministry of Commerce did not immediately respond to a Reuters request for comment. Under the Phase One trade deal signed during Trump's first term, China agreed to boost purchases of U.S. agricultural products, including soybeans. However, Beijing fell far short of meeting those targets. This year, amid Washington–Beijing trade tensions, it has yet to buy any fourth quarter U.S. beans, fuelling concerns as the U.S. harvest export season approaches. "On Beijing's side, there have been quite a few signals that China is prepared to forego U.S. soybeans altogether this year, including booking those test cargoes of soymeal from Argentina," said Even Rogers Pay, an agricultural analyst at Trivium China. Reuters previously reported that Chinese feedmakers have purchased three Argentine soymeal cargoes as they aim to secure cheaper South American supplies amid concerns about a possible soybean supply disruption in the fourth quarter. U.S. soybean industry has been seeking alternative buyers, but no other country matches China's scale. Last year, China imported 22.13 million tons of soybeans from the U.S., and 74.65 million tons from Brazil.
Daily Mail
17-07-2025
- Politics
- Daily Mail
Trump claims China will soon execute fentanyl dealers
President Donald Trump said China would soon start executing fentanyl dealers, as he inked legislation he said would deal a 'righteous blow' to premature deaths in the U.S. The president signed new legislation to stiffen jail penalties for fentanyl traffickers amid the drug overdose epidemic that took over 48,000 American lives last year. China sends deadly synthetic opioid chemicals to Mexican cartels, who then press them into pills or add them in powder form to heroin and cocaine. Trump again vowed to take action while standing next to 'angel families' who have lost loved ones. 'I think we're going to work it out so that China is going to end up going from that to giving the death penalty to the people that create this fentanyl and send it into our country,' Trump said. He said China would take the action soon even as the countries work through a trade clash after Trump imposed sanctions. 'I have a very good relationship with President Xi of China, but I imposed a 20 percent tariff on China because of the fentanyl. And I call it a penalty. It's a penalty because China delivers much of the fentanyl,' Trump said. Trump said it would have happened sooner were it not for the 2020 election , which he again called 'rigged' despite losing to Joe Biden by 7 million votes. 'I believe that we would have had that deal long time ago. I shook hands with him, and that we had a rigged election, and we had somebody else come in and they didn't know anything about a deal for the death penalty,' Trump said, before referencing the China move. 'I believe that's going to happen soon,' he added. China already imposes the death penalty for certain drug offenses . The country has long been criticized for denying defendants' rights and transparency in its judicial system, with Amnesty International saying it executes thousands of people each year without saying how many. An Amnesty International report from April showed a 32 percent increase in executions worldwide during 2024, with 'thousands' in China. Trump himself has talked about using the death penalty to go after drug dealers in the U.S., and praised the mandatory minimum jail sentences that are part of the legislation he signed to permanently add fentanyl to Schedule 1 under the Controlled Substances Act. The bill he signed, the Halt All Lethal Trafficking of Fentanyl Act, got bipartisan support in Congress, although Trump signaled out Republican backers at the White House. 'It's a big deal, as they will tell you – meaning anyone caught trafficking these illicit poisons will be punished with a mandatory 10 year minimum sentence in prison. We'll be getting the drug dealers, pushers and peddlers off our street,' Trump said. After mentioning the China death penalty, Trump continued: 'I believe that's going to happen soon, but as of today, all fentanyl related substances will be banned forever, and those who traffic in these deadly poisons will be put behind bars for a very long period of time.' Back in February, Trump referenced the death penalty conversation he says he had with Xi while speaking to a group of governors. 'If you notice that every country that has the death penalty has no drug problem,' Trump said.
Telegraph
15-07-2025
- Politics
- Telegraph
Will Donald Trump stand with the democracies or side with a despot?
SIR – It's tempting to hope that the truth is dawning on President Trump – that Vladimir Putin has never wanted, and never will want, a peaceful resolution to the Ukraine conflict. The offer of additional weapons to Ukraine is welcome (report, July 15), even if Europe has to foot the bill, but I still need to be convinced that Mr Trump will fully and unequivocally stand with the democracies against the despot. David Kenny Tredunnock, Monmouthshire SIR – Mr Trump has finally concluded that Vladimir Putin's words can't be trusted. The rest of us knew this more than three years ago, when Putin invaded Ukraine after repeated assurances that he had no such intention. David Vincent Cranbrook, Kent SIR – Donald Trump reportedly wants to win the Nobel Peace Prize. If he were to impose severe sanctions against Russia and provide sufficient military aid for Ukraine, the war could be ended, and the President might get his wish. But this must be done now, not after 50 days (' Trump threatens China over Russian oil ', report, July 15). Anthony Appleby Exeter, Devon SIR – President Trump should realise that China is already in conflict with the West. President Xi is providing economic, technical and military support to Russia. He appears to see the war in Ukraine as a way of weakening the West and distracting America. It is therefore in America's interest to bring the war to a close, ensuring a Russian defeat. Just as Israel has fought Hamas, Hezbollah and Iran, America should see defeat of Iran and Russia as necessary steps in its contest with China. Col Ronnie Bradford (retd) Vienna, Austria SIR – Russia will not lose militarily, but only by economic collapse. It is therefore time for the UK and the EU to announce further sanctions, and the seizure of all frozen Russian assets held in London and Europe. This would bring an end to the war much closer. If the UK and Europe do not step up, I fear we will see the usual European technocratic fudge, inviting further trouble in the future. David Shadwell Little Baddow, Essex SIR – What has happened to the 'coalition of the willing', led by our Prime Minister? Not so long ago there was talk of putting boots on the ground in Ukraine, yet it now appears that the country must rely on an unpredictable US administration – just as Putin intensifies his bombing. This seems to be another abject failure of leadership from Sir Keir Starmer. Piers Pottinger London SW17
