EU businesses had already planned to buy more soybeans back in June, so it looks like they packaged something that was going to happen anyway as a concession.
It's good that they plan to buy more soybeans, as we lost out enormously when China cancelled on those. The EU charges no duty on soybean imports from the US, and now while negotiations go on, none will be placed on them. But Europe imports 18.3 million metric tons of soybeans total per year, while China imports 95 million. This is a catch 22 situation for American farmers, the longer this issue lingers, the more permanent the trade links between China & Brazilian suppliers become - their market will shrink.
Also, the vast majority of US soybeans are GMOs, which Europe won't buy.
Last edited by helenwheels; 07/25/1807:52 PM.
All God's children are not beautiful. Most of God's children are, in fact, barely presentable.
I never met anyone who didn't have a very smart child. What happens to these children, you wonder, when they reach adulthood?
