US President leaves open the possibility of stopping cooking oil imports from China

VTV.vn - President Donald Trump said on October 14 that the US is considering ending some trade relations with China, including stopping the purchase of cooking oil.

Cargo port in Shandong, China. (Photo: THX/TTXVN)

Mr. Trump made such a response after China stopped importing American soybeans.

On the social network Truth Social, President Trump said that China's move caused difficulties for American soybean farmers as well as economic disadvantages. Mr. Trump affirmed that America "can produce its own cooking oil, without having to buy from China."

China, the world’s largest soybean importer, has shifted purchases from Brazil and Argentina to the United States in recent months amid renewed trade tensions between Beijing and Washington, despite efforts by both sides to maintain dialogue in recent months.

On October 9, the Chinese government decided to tighten controls on exports of rare earths and rare earth-related technologies. A day later, President Trump announced that he would impose an additional 100% tariff on goods from China starting November 1. The world's two largest economies also imposed new port fees on each other's ships, which were announced to take effect from October 14.

However, analysts say the US and China still want to maintain and promote dialogue to avoid escalating trade tensions.

In an interview with Fox Business on October 13 (local time), US Treasury Secretary Scott Bessent said President Trump will meet Chinese President Xi Jinping on the sidelines of the Asia- Pacific Economic Cooperation (APEC) Summit in South Korea.

According to Mr. Bessent, the two countries had significant discussions over the weekend and are expected to continue the expert-level dialogue this week. The US Treasury Secretary said that the additional tariffs on China will not take effect until November 1, thereby leaving open the possibility that the situation could change depending on the development of the dialogue between the two sides.

Source: https://vtv.vn/tong-thong-my-de-ngo-kha-nang-ngung-nhap-khau-dau-an-tu-trung-quoc-100251015161417882.htm