And China’s imports of American soybeans recorded their highest levels in 20 months last November after the Chinese authorities announced the abolition of the 30% customs duties on bean shipments coming from the United States before signing the partial trade agreement between the two countries.
China’s imports of American soybeans increased to about 2.6 million tons after customs duties were canceled, the highest level since March 2018, compared to about 1.1 million tons last October.
Trade tensions between the United States and China have escalated in the wake of the establishment of mutual customs duties between the two most powerful economies in the world, which could lead to the outbreak of trade war between the two countries, which would negatively affect global economic growth.