In 20 17, China imported 95.54 million tons of soybeans, of which the United States exported 32.854 million tons of soybeans to China, accounting for 34.39% of China's total imports. The large proportion of imports makes soybeans the focus of this tariff increase.
As soon as the news that China imposed tariffs on US soybeans came out, the US futures market reacted instantly: CBOT soybean futures plummeted by 4%, and the lowest fell to 994.2 below 1000 cents. For passenger cars and civil aircraft, the impact of this policy will be reflected in car companies (Lincoln, Ford, Tesla, etc. ) the origin of the United States, as well as Boeing.
This move is bad news for Boeing. China is an important market for Boeing. At present, more than 50% of commercial aircraft in use in China are produced by Boeing. Last year, a quarter of the planes delivered by Boeing worldwide were sold to China. In the future competition with Airbus for the China market, Boeing will be at a disadvantage.
Zhou, director of the International Finance Center of the Ministry of Finance, said that Sino-US relations are the most important bilateral relations in the world today. The global economy will benefit from good cooperation and development between the two countries. Friction between the two countries, including trade friction, will not only harm their own interests, but also affect the global economy.