highwhey
09-30-2025, 01:41 AM
The U.S. helped Argentina, then Argentine farmers made a deal with China
The Trump administration threw Argentina a financial life raft this week, and Argentina promptly responded by offering China an enticement in the form of untaxed soybeans.
Why it matters: It's a harsh blow to already struggling U.S. soybean farmers, and illustrates the complex implications of rescuing a close ally.
Driving the news: On Monday, Treasury Secretary Scott Bessent announced concepts for broad financial support to stabilize Argentina's economy, including potential loans, currency purchases and debt buying. Argentina's currency, the peso, rallied on the news.
Argentina, looking to rake in more capital, suspended its export taxes on several products Monday, including its 26% soybean tax.
That attracted China, historically the top buyer of U.S. soybeans, to Argentina. China doubled Argentine soybean purchases overnight Tuesday to 20 cargoes, following an uptick earlier in the week.
US farmers are struggling bc of the tarrifs imposed by the trump admin. US somehow pulled out $20 from thin air and gifted it to argentina who then turned around and undercut US Farmers by selling to china.
you can't make this sh1t up. :facepalm
The Trump administration threw Argentina a financial life raft this week, and Argentina promptly responded by offering China an enticement in the form of untaxed soybeans.
Why it matters: It's a harsh blow to already struggling U.S. soybean farmers, and illustrates the complex implications of rescuing a close ally.
Driving the news: On Monday, Treasury Secretary Scott Bessent announced concepts for broad financial support to stabilize Argentina's economy, including potential loans, currency purchases and debt buying. Argentina's currency, the peso, rallied on the news.
Argentina, looking to rake in more capital, suspended its export taxes on several products Monday, including its 26% soybean tax.
That attracted China, historically the top buyer of U.S. soybeans, to Argentina. China doubled Argentine soybean purchases overnight Tuesday to 20 cargoes, following an uptick earlier in the week.
US farmers are struggling bc of the tarrifs imposed by the trump admin. US somehow pulled out $20 from thin air and gifted it to argentina who then turned around and undercut US Farmers by selling to china.
you can't make this sh1t up. :facepalm