美国真的被打疼了，美财长倒打一耙：中国将美国豆农当“人质”

Core Viewpoint - The article discusses the decline of U.S. soybean exports to China, attributing it to the U.S. government's trade policies and the resulting loss of competitiveness against South American suppliers [1][19]. Group 1: Market Dynamics - China was once the largest buyer of U.S. soybeans, importing nearly 25 million tons in the 2023-2024 market year, significantly more than the 4.9 million tons exported to the EU [3]. - From May 2025, U.S. soybean farmers have not received new orders from China, with 12 million tons of new season orders redirected to Brazil and Argentina [3][5]. - By 2024, 60% of China's imported soybeans came from Brazil, with U.S. market share significantly declining, leading to months with zero orders from the U.S. [8]. Group 2: Competitive Challenges - U.S. soybean prices are approximately 20% higher than similar products from South America due to tariffs, increasing procurement costs for Chinese companies by nearly 1,000 yuan per ton [5]. - Argentina has eliminated export tariffs on soybeans to China, creating a clear price advantage [7]. - The U.S. domestic soybean market is limited, with per capita consumption less than one-tenth of that in China, leading to surplus production that cannot be absorbed [10]. Group 3: Government Response - The Trump administration previously provided $27 billion in subsidies to soybean farmers during the trade war and is now planning to allocate $10 to $14 billion from tariff revenues for farmer assistance [12]. - However, these subsidies are insufficient to cover transportation costs, and the U.S. government faces fiscal pressures with national debt exceeding $36 trillion [12]. - The administration's diplomatic efforts, including a $20 billion aid package to Argentina, have backfired as Argentina uses the funds to lower prices for China [14]. Group 4: Market Realities - U.S. officials have attempted to pressure China into resuming soybean purchases, but these efforts have not altered market preferences, which favor suppliers with better price-performance ratios [19]. - From January to July 2025, China imported 42.26 million tons of soybeans from Brazil compared to only 16.57 million tons from the U.S. [19]. - The article concludes that the power in trade lies with the market rather than politicians, emphasizing that U.S. subsidies and blame-shifting will not resolve the underlying issues [21].