As U.S. leaders work to secure more trade deals, there is still some hope that China will return to the U.S. soybean market.
The Senior Market Analyst for Barchart, and frequent Market Day Report guest, Darin Newsom says it might not happen again in our lifetimes.
“No, the U.S. is not going to regain its foothold. There’s nothing that’s going to happen that’s going to change that again. This is long-term damage that has been done in trade relations. Long-term to China is not what the U.S. thinks, which is hours to maybe days; it’s a very short attention span. The U.S. is known for its ADHD. China, long-term, is centuries, so you know, we’re not dealing with something that’s just going to change on a whim, much like what we see happening here in the U.S. So, no, the U.S. isn’t going to immediately jump back into the game. it’s going to take a long time to rebuild any sort of demand coming from China.”
Finding a trade balance with China has been a top priority for the Administration this week. Several cabinet members just returned from London after meeting with Chinese officials. Treasury Secretary Scott Bessent was part of that delegation, who is testifying before the House and Ways Committee currently.
