China suspended on Tuesday the soybean import licenses of three U.S. firms and halted imports of U.S. logs, stepping up its retaliation for additional U.S. tariffs on Chinese goods.Earlier in the day,
China suspended on Tuesday the soybean import licenses of three U.S. firms and halted imports of U.S. logs, stepping up its retaliation for additional U.S. tariffs on Chinese goods.
Earlier in the day, China also imposed import levies covering $21 billion worth of U.S. agricultural and food products including soybeans, wheat, meat and cotton.
The three U.S companies affected by the license suspensions are farmer-owned cooperative CHS Inc, global grains exporter Louis Dreyfus Company Grains Merchandising LLC and export grain terminal operator EGT, China's customs department said in a statement.
Customs said it detected ergot and seed coating agent in imported U.S. soybeans, while the suspension of U.S. log imports was due to the detection of worms, aspergillus and other pests.
Media representatives for Louis Dreyfus, CHS and Bunge Global, which partially owns EGT, did not immediately respond to requests for comment.
Beijing is retaliating against U.S. President Donald Trump's decision to impose an extra 10% duty on China, effective Tuesday, resulting in a cumulative 20% tariff in response to what the White House considers Chinese inaction over drug flows.
About half of U.S. soybean exports are shipped to China, totaling nearly $12.8 billion in trade in 2024, according to
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