As US President Donald Trump heads to a delayed, high-stakes mid-May summit with President Xi Jinping in Beijing, he is already claiming victory, touting on Friday past trade talks with Xi as a win for American farmers, a crucial electoral bloc battered by his tariffs and the ongoing war with Iran.
“Thanks to our trade deals, you’re now sending over US$40 billion in American soybeans to China,” Trump said on Friday, telling farmers and ranchers at the White House he personally secured the increase and urging them to “go out and buy bigger tractors”.
“We had a deal at 20 and I said, ‘Could you do me a favour? It’s a big place. Could you double it?” And he said, ‘What are you talking about?’ I said, ‘Could you make it 40 instead of 20?’ And he overwrote all of his people. He said, ‘All right, I’ll do it and you got 40 instead of 20.’”
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This figure has not been reported by the US Agriculture Department.
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Soybeans: China’s new bargaining chip in trade war with US?
Soybeans: China’s new bargaining chip in trade war with US?
After Trump’s meeting with Xi in South Korea last October, he announced that Beijing had committed to purchasing 12 million tonnes of US soybeans by year-end and 25 million tonnes annually through 2028.
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