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 Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.