Historically, China has been the top buyer of US soybeans by “a staggering margin,” says the American Soybean Association. This year, with US soybeans facing retaliatory tariffs amid the ongoing trade war, China is going elsewhere.
In a letter urging President Trump to cut a deal with China that removes China’s retaliatory duties and includes “significant soybean purchase commitments,” the ASA says China “currently has zero new crop export orders for US soybeans on the books for marketing year 2025/26.”
I try to explain it people really carefully.
First ask them “what makes a country wealthy”. The idiots always reply with “it’s having lots of money”.
Me. “Money is just numbers or pieces of paper that governments say is worth something. Real wealth is having the use of and control of resources. Resources are things like goods, labor, materials, production facilities, etc. So in trade if one country gets more money and other country gets more resources, the one receiving more resources wins.”
I usually lose them at the first sentence, they are after all idiots.