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.
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