Trump’s trade war has cemented Brazil’s place as the soybean superpower, says The Economist
They say no one wins a trade war. Certainly, there are fewer bigger losers than soybean farmers in the United States. Since May China, by far their biggest customer, has refused to buy a single bushel in retaliation for Donald Trump’s tariffs. The spat is ruining farmers in Illinois; Mr Trump is set to announce a US$10bn agricultural-relief package. It is also raising costs for crushers in China’s Shandong province, who press beans into animal feed and cooking oil. But there has been one big winner: soybean producers in Brazil. The rift between American farmers and their Chinese clients has let Brazil cement its place as the world’s soybean superpower.
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