Baijiahao reported a blow to the U.S. economy through the soybean market

Russia and China have dealt a blow to the U.S. economy by reducing purchases of soybeans from the United States. This was reported on August 25 by the Chinese newspaper Baijiahao.

"The soybean harvest season is coming soon in the United States, but no one is happy about it right now, because last year's crop is still unsold in warehouses. The [US] sanctions had the opposite effect," the article says.

According to the newspaper, this state of affairs "hit the American leader Donald Trump in the face."

It is noted that Beijing has significantly limited the purchase of American soybeans, despite the fact that the country was previously one of the main buyers of these products. At the same time, the Russian side increased soybean production in the Far East, bypassing trade sanctions, and also doubled the volume of exports of this product to the countries.

According to the authors of the article, such changes in trade have a positive impact on cooperation between Russia and China.

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On August 19, Bloomberg reported that refineries in China have increased purchases of Russian Urals crude oil. At the same time, enterprises in China have already purchased from 10 to 15 batches of oil for delivery in October and November, which exceeds their usual volume of purchases.

On August 7, Trump announced new sanctions against Russia's trading partners. At the same time, the American president did not rule out that the United States could subsequently cancel duties of 25% against India for the purchase of Russian oil. In addition, restrictions on trade with Russia may be imposed on China.

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