U.S. soybean sales to China down 94% amid Trump tariffs: report

The New York Times reported Monday that the latest federal data, which tracked up to mid-October, showed a dramatic drop in sales to China, which is by far the world’s biggest soybean importer.

However, federal data through September show that soybean exports are up 1 percent over all this year above where they were at this time in 2017.

Eighty-seven percent of the reported 110 million tons of soybeans China consumed in 2017 were imported, largely from the U.S. or Brazil.

Though many soybean farmers expressed trust in Trump and his protectionist trade agenda, others told the Times that they were unhappy with the effect Beijing’s retaliatory tariffs have had on their business.