China Rejects US Soybeans, Buys From BRICS Countries
China is refusing to buy US soybeans and has cut imports due to the tariffs and trade wars. The Communist country has not booked a single shipment from US suppliers this season. The development is proving costly for US-based farmers, as China is the largest buyer of the crop globally. So what happened? It turns out that China is now buying soybeans from South American countries Argentina and Brazil, and the BRICS member is allowing the country to pay the Chinese yuan for settlements. Also Read: BRICS Just Unveiled the Plan to Replace US Dollar Worldwide BRICS Members Use Chinese Yuan For Soybeans, US Left Out Source: Ricardo Stuckert / brasildefato.com.br BRICS member Brazil is sending soybeans to China and is accepting the Chinese yuan for payments. The US farmers are now facing overflowing bins of soybeans with flat prices. President Donald Trump announced that he will raise the issue directly with Xi Jinping over the refusal. Trade tensions are increasingly becoming worrisome betwee...