Inside the White House with D.C.'s most wired reporter. Sign up for Mike Allen's Axios AM.


China triples Russian soybean imports as it cuts reliance on U.S.

Workers moving soybean shipments
Workers moving soybeans at a Chinese port. Photo: -/AFP via Getty Images

China, the world’s biggest soybean importer, has bought a record amount of soybeans from Russia while canceling multiple soy shipments from the U.S. in retaliation to the Trump administration's tariffs on Chinese goods, reports Bloomberg.

Why it matters: American farmers are heavily dependent on soybean production as a source of revenue. In 2016, soybeans accounted for 12% of exports from the U.S. to China. But that stream is now dissipating with China using subsidies incentivizing their own farmers to cut reliance on U.S. soybeans.

But, but, but: Russia supplies less than 1% of China's soybeans.

Go deeper: Soybeans are a political ground zero in Trump's trade war with China.

More stories loading.