China Targeting Trump’s Political Base With Tariffs

Beijing’s decision to target U.S. soybeans in its new tariffs is a political maneuver designed to hit President Donald Trump’s support base, according to Jim Sutter, CEO of the U.S. Soybean Export Council.The world’s second-largest economy, announced on Wednesday a 25 percent levy on $50 billion in U.S. imports, including soybeans, corn, aircraft, cars and whiskey. That was in response to Washington’s decision to impose a similar scale hike on Chinese goods.The Chinese are looking “where could they have an impact with many people who may have the ear of President Trump … the farmers are certainly that,” Sutter told CNBC’s “Squawk Box” on Thursday.

Source: China using soybeans to hurt President Donald Trump: Jim Sutter – CNBC

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Craig Erlam

Craig Erlam

Senior Market Analyst - UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a Market Analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam