FX.co ★ Trump Weighs Cooking Oil Trade Cut Over China’s Soybean Snub

On Tuesday, President Donald Trump announced that the United States might reconsider certain trade relationships with China, focusing particularly on cooking oil. This consideration stems from what he described as China's economic aggression toward American agriculture, particularly soybean farmers. In a post on Truth Social, Trump accused China of intentionally curtailing its soybean imports from the U.S., labeling this move an "Economically Hostile Act." He stated, "China is purposefully not buying our soybeans, creating challenges for our farmers." Trump indicated that, as a form of reprisal, the U.S. might sever business ties with China connected to cooking oil and other trade sectors. Amid persisting trade tensions, China, the largest global buyer of soybeans, has recently opted to source more from Brazil and Argentina. Trump perceives this shift as a bargaining tactic and cautioned that the U.S. could escalate its retaliatory measures if necessary.