Trump Presses China on Soybeans as Tariff Risks Rise

President Donald Trump has urged China to significantly increase its purchases of U.S. soybeans, stating this would help address China's shortages and reduce its trade deficit with the United States. Trump specifically called for China to quadruple its soybean orders and thanked President Xi Jinping as the expiration of the trade truce and potential renewed tariffs approach. Soybean prices in Chicago rose over 2% following Trump's remarks, although broader market sentiment remains cautious due to ample global supply. U.S. Vice President JD Vance confirmed Trump is considering tariffs on China for importing Russian oil, but no decision has been made, citing the complexity of the relationship. Meanwhile, the U.S. recently imposed substantial tariffs on India for similar Russian oil imports, which India has criticized as unjustified. The evolving U.S.-China trade relationship, especially regarding soybeans and potential tariffs, is being closely monitored by global markets and policymakers.