Treasury Secretary Scott Bessent has suggested that an extended tariff truce with China is still possible. That comes as rhetoric between the administration and Beijing grows heated.
China stopped buying soybeans from America in May, placing a retaliatory tariff on the bumper crop after President Trump increased levies on goods from China.
North Dakota farmers are scrambling to find extra storage space and bracing for land values to fall as soybeans that should be bound for China begin to pile up.
U.S. farmers need to sell their incoming crop, and China needs to buy it in case its main alternative, Brazil, has a flood or drought. But their trade war prevents a deal.
Login
