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US President Donald Trump has criticised China’s suspension of American soybean imports, describing it as an “economically hostile act.” He warned on Tuesday that Washington might retaliate by halting the purchase of cooking oil from the world’s second-largest economy.
“We are considering ending business with China involving cooking oil and other trade items as retribution,” Trump wrote on his Truth Social platform.
His online remarks came shortly after he appeared to play down tensions between Washington and Beijing. Speaking to reporters at the White House, he said, “We have a fair relationship with China, and I think it’ll be fine. And if it’s not, that’s okay too.”
Trade tensions between the two global powers have flared up again during Trump’s second term, with tit-for-tat tariffs once reaching triple-digit levels.
In an interview with the Financial Times on Monday, US Treasury Secretary Scott Bessent accused Beijing of undermining the global economy through its new export restrictions on rare earth materials.
Trump, meanwhile, insisted that Washington must remain vigilant in its dealings with China. “I have a great relationship with President Xi Jinping, but sometimes it gets tense because China likes to take advantage of others,” he said. “When punches are thrown, you must raise your guard.”
On Truth Social, Trump emphasised that China’s decision to stop soybean purchases was causing serious hardship for American farmers.
US imports of processed oils, animal fats, and used cooking oil have surged in recent years, fuelled by the country’s growing production of biomass-based diesel, government data shows.
Although hostilities between the two nations have somewhat eased, the truce remains fragile. After Beijing introduced fresh export curbs on rare earth technologies, Trump vowed to impose an additional 100 per cent tariff on Chinese goods starting 1 November.
US Trade Representative Jamieson Greer told CNBC that the timeline could be moved forward, saying, “It depends on what China does. They have chosen to make this major escalation.”
China remains the leading global supplier of rare earth minerals used in automotive, electronic, and defence manufacturing.
Bessent told the Financial Times, “This shows how weak their economy is — they’re trying to drag everyone else down with them.”
Last week, Trump also threatened to cancel a planned meeting with Xi at the upcoming Asia-Pacific Economic Cooperation (APEC) summit.
Beijing, in response, accused the United States of “double standards” following Trump’s tariff threats. On Tuesday, China declared it was ready to “fight to the end” in any trade war with Washington.
