China’s Ambassador⁣ to US ‍Warns ⁢of Plummeting Soybean Imports, Accuses US of “Political Manipulation”

WASHINGTON D.C. – China’s Ambassador to the United States, Xie Feng, delivered⁣ a sharp rebuke of US trade policies Friday, warning that Chinese soybean purchases from ‌the⁢ US are⁣ projected to​ decline ⁤by 51% this year compared to the same period in 2023.⁢ Speaking at a soybean industry event in Washington, Xie attributed the ‍drop ⁣to escalating trade⁢ tensions⁤ and accused ‌the US of using “political ‌manipulation” to restrict Chinese ⁣investment in American agriculture.

The⁤ warning comes as the ​US and ‍China remain ‍locked in a tariff war ‌initiated under ​the Trump administration, with agriculture emerging as a key battleground. Xie emphasized​ the potential for cooperation, noting China’s strength in labor-intensive agricultural products and the US’s advantage ‍in large-scale, mechanized production of bulk commodities. He argued ⁤that agriculture ‍should be a⁢ “pillar of ⁣bilateral relations” ​and not “hijacked by politics,” adding, “farmers should not be made to pay the price of a trade war.”

Xie’s remarks‌ follow recent moves by the US government to tighten scrutiny of foreign land ownership, notably targeting China. Last month,US Agriculture Secretary Brooke Rollins announced Washington woudl curb farmland⁣ purchases by⁣ “foreign adversaries,” including China,citing national security concerns. The Department of Agriculture also recently terminated ⁢the ⁤contracts of 70 foreign researchers following a national security review aimed⁣ at protecting the US⁣ food supply from ⁢potential threats posed ⁣by China, Russia, North Korea, and Iran.

the ambassador directly ⁣challenged ⁢the US rationale for these restrictions, stating that Chinese investors hold less than 0.03% of ‌US agricultural land. “So where ‌dose​ the claim of ‘threatening US food security’⁣ even come from?” he asked, labeling the US actions as “protectionism rampant” and ​casting a “shadow over⁣ China-US ⁤agricultural cooperation.”

Beyond land⁤ ownership, the ⁢escalating tensions are impacting current trade. US soybean exporters ​are facing the risk‌ of losing⁤ billions⁢ in potential sales as Chinese ⁣buyers ​increasingly secure supplies ⁤from Brazil‍ for delivery during the crucial US marketing season, ⁣according ‌to traders.⁢ This shift is occurring as trade negotiations between the two countries stall.

Context: A ⁣history of Agricultural Trade Friction

The US and China have a complex history of agricultural trade, marked by periods of both cooperation ⁤and conflict. Soybeans, in particular, have become a​ central component of this relationship. China is⁣ the world’s largest‍ importer‍ of soybeans, ​primarily used⁤ for animal feed, and the US is a major exporter.

During the trade war ​initiated in 2018, China imposed tariffs on US soybeans, significantly reducing American exports and impacting US farmers. ​While‌ a phase One trade deal in ⁣2020 saw China commit to increasing​ purchases of US agricultural​ products, including soybeans, ‍those commitments were not fully met.

The ‌current ​situation reflects ‍a renewed escalation of tensions, ‍fueled by concerns ⁢over national security, technological competition, and geopolitical rivalry.The US government’s increased scrutiny⁣ of foreign land ownership is part of a broader effort to counter China’s growing economic influence and⁤ protect critical infrastructure.The long-term implications ‌of these developments remain uncertain. A continued decline in US soybean exports to China could further strain the⁢ agricultural sector and potentially lead to​ lower prices for American farmers. Conversely, a resolution to the ‍trade dispute and‍ a restoration of trust could unlock significant opportunities for both countries.