On September 22, Argentina that it decided to suspend export tariffs on agricultural products such as soybeans, corn and wheat worth $7 billion from the same day until October 31, which means that the cost of purchasers will be reduced by 26%.
Just after the news broke out in Argentina, as of early October, China buyers had bought at least 35 ships of soybeans in one go, but had not bought U.S. soybeans for more than 12 weeks in a row, which made the Trump administration furious.
According to the US Fox News on October 9, the same day, Finance Minister Bessent in an interview said that the United States does not want a failed country in Latin America, or a country dominated by China, look forward to Argentina's president's visit to the United States, and stability in Argentina is the priority of the United States.
Obviously, Bessent's statements show that the United States is both angry and reluctant about the sale of Chinese soybeans to Argentina, so that Argentina's tax cuts further make China more likely not to buy American soybeans, and it is reluctant that the current President of Argentina Milley is a right-wing political ally of Trump, the United States has been cut off, and after losing 10 billion agricultural products profits, it has to pay $ 20 billion for its aid.
At a time when the United States was angry and upset, the response of the Chinese embassy quickly re-picked the American side with a knife.
On October 11, our Embassy in Argentina issued a long article stating that Besent's speech exposed the deep-rooted Cold War and confrontational mentality of some people in the United States. Over the years, the United States has spared no effort to interfere and control Latin American countries, and its hegemonic bullying actions have become clear.
Immediately, we emphasized that Latin America is no one's backyard, and China-Latin America cooperation is not targeted at and will not be interfered by third parties. Rather than sow discord and cause trouble over nothing, the United States might as well do something tangible.
I have to say that what we said makes people unreasonable, because international trade itself is about who buys the right price. Since Argentina's soybeans are reduced by 26% and U.S. soybeans have increased by 34% due to tariffs, who will they buy? This is an obvious thing.
If the United States also wants to do business, the first thing it has to do is to reduce the rising 34% tariff now, instead of coming to China and Argentina to pry and cut off the business. This is a move to bully the market and obviously unpopular.
At the moment, this year's global soybean harvest has reached a critical stage, Brazil and Argentina have all landed, but American soybeans have no question, farmers have begun to bankrupt, or sellers are struggling to survive.
With China tightening its rare earth policy, the United States once again threatened to increase tariffs by 100%, exacerbating trade conflicts. I'm afraid Trump's tossing will only further aggravate the decline of American agriculture.