Overview

• Chinese Foreign Ministry spokesperson Lin Jian said trade and tariff wars have no winners and called for resolving disputes through equal consultations.
• President Donald Trump has threatened 100% tariffs on China and floated blocking imports of vegetable oil and other goods in response to what he described as hostile economic actions.
• Official Chinese customs data show Jan–Aug 2025 purchases of U.S. soybeans at 16.8 million tonnes, up 31% year on year, valued at $7.7 billion, up 5%.
• Markets saw sharp swings following the president’s shifting statements, with declines after tariff threats and rebounds after reassurances.
• Analysts report that higher tariffs are likely to raise prices for American consumers and note U.S. strategic exposure to China’s dominance in rare-earth production.