USA wants China not to impose customs tariffs on soybean imports

Chinese restrictions on imports of soybean from the United States will harm the Chinese people more than US producers. Imposition of China duties on soybean import would cause an annual economic loss for the US between 1.7 billion USD and 3.3 billion USD. China buys nearly 60% of soy products that are traded globally, with over 30% of soybean imports coming from the United States.