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President Donald Trump has warned of potential trade retaliation against China, accusing Beijing of engaging in what he described as an “Economically Hostile Act” by halting purchases of U.S. soybeans. In a post on Truth Social, Trump stated that China’s refusal to buy American soybeans was a deliberate move to hurt U.S. farmers and hinted at strong countermeasures, including cutting trade ties related to cooking oil and other products.
“I believe that China purposefully not buying our Soybeans, and causing difficulty for our Soybean Farmers, is an Economically Hostile Act,” Trump wrote. He added that the United States is “considering terminating business with China having to do with Cooking Oil, and other elements of Trade, as retribution.” Trump also emphasized that the U.S. can easily produce its own cooking oil and does not need to rely on Chinese imports.
The comments come amid escalating trade tensions between Washington and Beijing, the world’s two largest economies. On Tuesday, both countries introduced additional port fees on ocean shipping companies, further intensifying the economic standoff. The news rattled investors and sent major U.S. stock indexes lower, marking a sharp retreat from record highs.
Despite asserting a “great relationship with President Xi,” Trump acknowledged that relations with China have become “testy” as Beijing “likes to take advantage of people.” He vowed that the U.S. would stand firm in defending its economic interests, saying, “You got to put up the blocks. We have a lot of punches being thrown.”
These developments follow China’s recent decision to impose new export controls on rare earth materials, a move that has heightened fears of a broader trade conflict. The situation continues to fuel uncertainty in global markets as both nations brace for potential economic repercussions.
