US President Donald Trump has threatened to start producing vegetable oil in the US instead of buying it from China. This was reported by AP News, informs UNN.
Details
The head of the White House, in particular, called Beijing's decision not to buy American soybeans an "economically hostile act."
The US can "easily produce vegetable oil itself" and does not need to buy it from China. China has been the largest foreign buyer of American soybeans for many years, but has not bought them since May
Meanwhile, according to media reports, the US market lost $450 billion in 7 minutes after this statement by the US president.
Recall
Recently, US President Donald Trump announced the introduction of an additional 100% tariff on Chinese goods from November 1, 2025. This decision is a response to Beijing's "aggressive stance" on international trade and export controls.
Beijing, in turn, called on Washington to stop the pressure and return to negotiations. China stated that it would not hesitate to take retaliatory measures.