China imported zero U.S. soybeans in November
American farmer harvesting soybeans. Photo: Mark Wilson/Getty Images
For the first time since President Trump initiated his trade war, China imported zero U.S. soybeans in the month of November, after purchasing 4.7 million tons in November 2017, Reuters reports.
The big picture: Once the largest market for one of America's largest exports, China's decision to slap retaliatory tariffs of 25% on U.S. soybeans in July has hit American farmers especially hard. As part of Trump and President Xi's temporary trade war truce, however, China is reportedly preparing to resume buying soybeans and other American products in the new year.