Core Viewpoint - President Trump's comments about U.S. cooking oil production in response to China's soybean purchasing decisions triggered a significant decline in equity markets, erasing $450 billion in value within minutes [1][2][3]. Market Reaction - The equity markets experienced a rapid pullback, with a loss of $450 billion in just 7 minutes following Trump's trade threat [2][3]. - Despite the initial downturn, major indices futures showed recovery in the evening, with S&P 500 futures up 0.17%, Nasdaq futures up 0.22%, and Dow Futures up 0.11% [3]. Political and Economic Analysis - Experts criticized Trump's threats as weak, suggesting that the real economic hostilities lie elsewhere, such as in rare earth licensing [4][5]. - Political scientist Rush Doshi indicated that Beijing might interpret Trump's actions as a sign of weakness [5]. - Entrepreneur Arnaud Bertrand noted that Trump's threats regarding cooking oil were inconsequential, as the product in question is primarily used cooking oil, or "gutter oil," which China has a high domestic demand for [5][6]. Industry Impact - Following Trump's comments, Australian Oilseeds Holdings Ltd. saw a dramatic increase in stock price, soaring by 46.21% during regular trading and an additional 248.19% in after-hours trading [7]. - Other agricultural biotech stocks also experienced significant gains, with Origin Agritech Ltd. rising 92.33% and Arcadia Biosciences Inc. increasing by 53.28% after hours [7]. Export Data - In 2024, China exported 2.951 million metric tons of used cooking oil, with the U.S. being the largest importer at 1.267 million metric tons [6].