BEIJING- China’s soybean imports from the United States dropped 5.7 percent in 2024 from the previous year and were replaced by Brazilian and Argentinian shipments, as fears of a renewed Sino-US trade war further hammered the US market share to under a quarter.
China imported a record 105.03 million metric tons of the oilseed in 2024 ahead of the inauguration of President Donald Trump, whose threats of blanket 60 percent tariffs on all Chinese goods sparked concerns over disruptions to agriculture trade.
Total shipments from the US fell to 22.13 million tons while arrivals from Brazil rose 6.7 percent to 74.65 million tons, according to data from China’s General Administration of Customs on Monday.
US shipments to China, however, have surged since April and accelerated in the past few months as traders prepare for a potential halt to soybean trade between the two countries.
