WASHINGTON (RFD-TV) — President Donald Trump is now threatening stronger retribution against China over lost soybean sales.
In a post to social media, President Trump described China’s actions on soybeans as an “economically hostile act” and mentioned he is considering halting imports of Chinese cooking oil and other trade items. He says the United States could easily produce its own cooking oil, negating the need to purchase it from China.
However, data from the U.S. Department of Agriculture (USDA) Economic Research Service (ERS) shows China is not a major supplier of U.S. cooking oil supplies. In 2022, 96 percent of canola imports came from Canada, 82 percent of palm oil supplies arrived from Indonesia, while 78 percent of America’s olive oil supply came from the European Union.
On the other hand, imports of used cooking oil have been an issue. Those products are mostly used for biofuel production. USDA Foreign Ag Service (FAS) data shows that in 2024, China exported a record amount of used cooking oil, with the U.S. being its top export market. Last year, totals were more than 50 percent higher than in 2023.
In April of this year, Agriculture Secretary Brooke Rollins announced that the USDA was cracking down on imports of used cooking oil.
Rollins warned imports are displacing homegrown biofuels in the ag economy, saying they remain a strong opportunity for American producers. She said the department was working on ways to keep American refineries full of American feedstocks.
Treasury Secretary Scott Bessent stated this week that the government will intervene to help, following China’s withdrawal from the U.S. soybean market. One trader says the industry will remain in a holding pattern until Tuesday.
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