Privately run Chinese firms bought at least 10 boatloads of U.S. soybeans on Thursday, the country's most significant purchases since at least June, traders said, ahead of high-level talks next month aimed at ending a bilateral trade war that has lasted more than a year.
United States President Donald Trump has promised European Commission President Jean-Claude Juncker that he will not impose additional import tariffs on European cars for the time being, Juncker was quoted in a published interview as saying on Monday.
The United States has supplanted Brazil as the European Union's top supplier of soybeans since a deal in July with President Donald Trump to avert a trade war, according to EU data seen by Reuters on Thursday.
China can increase soybean imports from other countries to reduce reliance on buying from the United States, the president of state grains trader COFCO said in an interview with the Communist Party’s official People’s Daily paper on Wednesday.
The country that could indirectly benefit from the intensifying US-China trade war is Brazil, which finds itself in a strategic position to increase its market share of soybean exports to China.