Donald Trump said Wednesday that he will confront China’s Xi Jinping later this month at the Asia-Pacific Economic Cooperation summit, adding that soybean sales will dominate their discussion. The U.S. President said that China’s refusal to purchase American crops has created new tension between the world’s two largest economies. The issue has become political ammunition […]Donald Trump said Wednesday that he will confront China’s Xi Jinping later this month at the Asia-Pacific Economic Cooperation summit, adding that soybean sales will dominate their discussion. The U.S. President said that China’s refusal to purchase American crops has created new tension between the world’s two largest economies. The issue has become political ammunition […]

Trump will confront Xi Jinping at the APEC summit over China’s halt of U.S. soybean purchases

2025/10/02 06:20

Donald Trump said Wednesday that he will confront China’s Xi Jinping later this month at the Asia-Pacific Economic Cooperation summit, adding that soybean sales will dominate their discussion.

The U.S. President said that China’s refusal to purchase American crops has created new tension between the world’s two largest economies. The issue has become political ammunition at home, with Republicans from farm-heavy states demanding immediate action.

Trump is set to face Xi after the U.S. Department of Agriculture confirmed that China had not booked any soybean shipments by September 18, the first time since 1999 that Beijing skipped new-season purchases. Last year alone, U.S. shipments made up one-fifth of China’s soybean imports, valued at more than $12 billion.

Trump used his social media account on Wednesday to spell out his message. “I’ll be meeting with President Xi, of China, in four weeks, and Soybeans will be a major topic of discussion,” he wrote. “The Soybean Farmers of our Country are being hurt because China is, for ‘negotiating’ reasons only, not buying.”

His post triggered a rally in soybean futures, which climbed by as much as 1.9% before trimming gains. The spike marked the sharpest intraday rise since August 21. Farmers and lawmakers had been waiting for such a signal after warning that the standoff was squeezing agricultural communities.

Trump pushes Xi as Republicans sound alarms

The president blamed Joe Biden for failing to enforce the Phase One trade deal that included a purchase agreement with Beijing during Trump’s first term. He said the previous administration’s inaction gave China space to avoid commitments.

At the same time, he floated the idea of using tariff revenue to build a new aid package for farmers. “It’s all going to work out very well. I LOVE OUR PATRIOTS, AND EVERY FARMER IS EXACTLY THAT!” Trump wrote. “MAKE SOYBEANS, AND OTHER ROW CROPS, GREAT AGAIN!”

China, the world’s biggest soybean buyer, has been holding back from U.S. imports, repeating the same playbook it used during the first trade war under Trump. The two countries are currently locked in a fragile trade détente that runs out in November.

Both sides had lowered tariffs and relaxed export controls under that deal. Earlier this month, Trump and Xi spoke directly to prepare for the APEC meeting, where trade will dominate the face-to-face.

Meanwhile, farm-state Republican senators met with U.S. Ambassador to China David Perdue this week and left pessimistic. They said there was no expectation that China would return to U.S. crops soon and warned that a bailout could only offer short-term relief. For lawmakers representing agricultural states, the absence of Chinese purchases has become a pressing problem, and the lack of solutions has left them demanding immediate answers from Trump.

Trump faces risks as farmers struggle and courts weigh tariffs

The plan to cover farm losses with tariff money could add legal troubles. Trump imposed sweeping tariffs on China using emergency powers, but those duties have been struck down by lower courts.

If the Supreme Court affirms those rulings, the government could be forced to return tens of billions of dollars in refunds. That outcome would undercut the financial base of any new farm aid package and raise questions about the administration’s next steps.

For farmers across the Midwest and other rural regions, the standoff is personal. They backed Trump in 2024, but now their exports have dried up, leaving them exposed as federal safety-net programs shrink.

Communities that had relied on global buyers like China are feeling the economic hit as new markets fail to replace lost demand. The second term of Trump has turned into a tough stretch for agriculture, with soybeans at the center of the struggle.

The political cost is now becoming clear. With Republicans preparing for next year’s midterm elections, the party risks losing ground in districts that depend on farming.

If you're reading this, you’re already ahead. Stay there with our newsletter.

Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact [email protected] for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.
Share Insights

You May Also Like

Coinbase Slams ‘Patchwork’ State Crypto Laws, Calls for Federal Preemption

Coinbase Slams ‘Patchwork’ State Crypto Laws, Calls for Federal Preemption

The post Coinbase Slams ‘Patchwork’ State Crypto Laws, Calls for Federal Preemption appeared on BitcoinEthereumNews.com. In brief Coinbase has filed a letter with the DOJ urging federal preemption of state crypto laws, citing Oregon’s securities suit, New York’s ETH stance, and staking bans. Chief Legal Officer Paul Grewal called state actions “government run amok,” warning that patchwork enforcement “slows innovation and harms consumers.” A legal expert told Decrypt that states risk violating interstate commerce rules and due process, and DOJ support for preemption may mark a potential turning point. Coinbase has gone on the offensive against state regulators, petitioning the Department of Justice that a patchwork of lawsuits and licensing schemes is tearing America’s crypto market apart. “When Oregon can sue us for services that are legal under federal law, something’s broken,” Chief Legal Officer Paul Grewal tweeted on Tuesday. “This isn’t federalism—this is government run amok.” When Oregon can sue us for services that are legal under federal law, something’s broken. This isn’t federalism–this is government run amok. We just sent a letter to @TheJusticeDept urging federal action on crypto market structure to remedy this. 1/3 — paulgrewal.eth (@iampaulgrewal) September 16, 2025 Coinbase’s filing says that states are “expansively interpreting their securities laws in ways that undermine federal law” and violate the dormant Commerce Clause by projecting regulatory preferences beyond state borders. “The current patchwork of state laws isn’t just inefficient – it slows innovation and harms consumers” and demands “federal action on crypto market structure,” Grewal said.  States vs. Coinbase It pointed to Oregon’s securities lawsuit against the exchange, New York’s bid to classify Ethereum as a security, and cease-and-desist orders on staking as proof that rogue states are trying to resurrect the SEC’s discredited “regulation by enforcement” playbook. Oregon Attorney General Dan Rayfield sued Coinbase in April for promoting unregistered securities, and in July asked a federal judge to return the…
Share
BitcoinEthereumNews2025/09/18 11:52
Share
Nomura’s Laser Digital Prepares To Enter Japan’s Crypto Market

Nomura’s Laser Digital Prepares To Enter Japan’s Crypto Market

The post Nomura’s Laser Digital Prepares To Enter Japan’s Crypto Market appeared on BitcoinEthereumNews.com. Financial services holding company Nomura Holdings is preparing to expand into Japan’s cryptocurrency market through its Switzerland-based subsidiary, Laser Digital Holdings. A Laser Digital spokesperson confirmed Friday that the unit is in pre-consultation talks with Japan’s Financial Services Agency (FSA) and intends to apply for a license to offer crypto trading services to institutional investors in the country.  However, the spokesperson told Cointelegraph that the application date remains “undetermined,” and will depend on the outcome of the discussions with the FSA.  If approved, Laser Digital would launch broker-dealer services for traditional financial and crypto-focused companies, including exchanges in Japan. Nomura is part of the Nomura Group, Japan’s largest investment bank and brokerage group. Japanese institutions plan to invest in crypto The move follows a broader push by institutions into the Japanese crypto market. Earlier this week, Daiwa Securities Group, one of Japan’s largest brokerages, introduced a crypto lending service that allows clients to borrow Japanese yen using Bitcoin (BTC) and Ether (ETH) as collateral.  Laser Digital and Daiwa’s push into the Japanese market seems to be a response to growing demand for crypto investments in the region.  In June, Nomura and Laser Digital unveiled the results of a survey exploring institutional appetite for crypto. The survey showed 54% of investment managers — including family offices, corporations and institutional investors — expect to invest in cryptocurrencies within the next three years. Related: Metaplanet expands Bitcoin strategy with new US, Japan units Japan regulator proposes crypto rule overhaul Alongside rising institutional interest, Japan’s regulatory stance on crypto has also shifted in a more favorable direction. Japan has looked to reform its crypto laws to align the sector’s rules with those of its traditional securities market, and also plans to lower taxes on crypto. In August, the country’s regulators quietly greenlit the country’s…
Share
BitcoinEthereumNews2025/10/04 09:23
Share