This is the product that exports the United States to China: Tariffs will benefit a country in Latin America | Soy | Brazil | Lrchn | World
Within the framework of the growing commercial tension between the United States and China, both nations have hardened their tariff policies. The administration of Donald Trump applied a 10% tariff to products of Chinese origin, which generated a rapid retaliation by Beijing. In response, China Increase from 10% to 15% tariffs on strategic goods from the United States, including crude oil, liquefied natural gas, coal, agricultural machinery and certain vehicles. These provisions, which will enter into force on February 10, aggravate the economic conflict between both powers.
These commercial measures will significantly affect soybeans, a legume rich in protein and multiple applications, used in the production of kitchen oil, milk, biofuels and other products. According to him Observatory of Economic Complexity (OEC), China imported approximately 18,000 million dollars In soybean from the United States, consolidating this grain as a key element in bilateral trade. The organization Farmers for Free Tradedefender of the American agricultural sector, warned that new tariffs will have “severe consequences” for the economy.
Soy is the main export product of the United States to China, with a value of US $ 18,000 million in 2022. Photo: China Business News
Soybean, the main export product of the United States to China and that Brazil sees as an opportunity
Soy has historically been the main export product of USA to China. In 2022, the North American country exported soy for a value of 18,000 million dollars to the Asian giant. However, commercial tensions and tariff imposition have affected this dynamic. In 2018, commercial disputes caused a significant fall in American soybeans to China, reducing approximately 36 million tons in 2017 to less than 20 million in 2018.
Given this situation, Brazil has emerged as a key competitor in Latin America and has taken the opportunity to increase its participation in the Chinese market. In 2022, he exported soy for a value of 31.9 billion dollars to China, consolidating itself as its main supplier. This trend has been strengthened in recent years, with a record volume of exports in 2021, of which almost 60 million tons were allocated to the Asian giant.
Brazil has displaced in the last years of the United States as the largest soy exporter to China. Photo: OEC
Tariffs between the United States and China will affect soyon trade
The imposition of new 10% tariffs on Chinese imports, promoted by the Trump administration, generates concern in the United States agricultural sector. The organization Farmers for Free Trade He warned about the “severe consequences” of this measure and pointed out that farmers already face high supplies costs, fall in crop prices and an excess global offer. “Tariffs will put American farmers at a disadvantage against competitors in Latin America,” the organization warned in a statement.
China, Mexico and Canada They represent almost 50% of American agricultural exports, which are projected in 170.5 billion dollars By 2024, according to the US Department of Agriculture. Despite the pause in tariffs to Mexico and Canada, China has announced reprisals, which could affect key products such as soybeans and corn, main agricultural exports of the country. Gary Hufbauerof the Peterson Institute of International Economics, described the measure as a punishment without benefits, and warned that it will harm US homes and companies without promoting the economy.
The 5 products that most export the United States to China
- Soy: This has been consistently one of the most exported products, standing out in agricultural trade between the two countries.
- Aircraft and components: This sector includes both commercial airplanes and parts and components for aviation.
- Cars and spare parts: including both full cars and parts and components for the automotive industry.
- Semiconductors and components: Although there has been a significant fall in exports of these products due to several reasons, including geopolitical tensions and competition, they remain a key component of trade.
- Chemicals: Several chemicals are also an important part of US exports to China.
(tagstotranslate) China
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