BEIJING, CHINA — The United States will have a difficult time regaining any market share it loses in China’s agricultural products sector, China’s Agriculture and Rural Affairs told the Xinhua News Agency, according to a Reuters report.
China will likely not restart “normal” trade of commodities, like soybeans, if the United States does not eliminate punitive tariffs, Minister Han Jun said.
He said in a Xinhua report that China has several options to make up for no imports from the United States, including increasing its soybean output or importing more from South America and Russia.
U.S. President Donald Trump has imposed 25% tariffs on $200 billion of Chinese goods. In response, China increased levies on billions of dollars of products imported from the United States.