Travis Hutchison, a soybean farmer, unloads his load from his family’s truck at a local grain dealer in Queen Anne, Maryland, on October 10, 2025.
Roberto Schmidt | AFP | Getty Images
President Donald Trump said Tuesday that his administration is considering “suspending edible oil-related transactions with China” in retaliation for Beijing’s refusal to buy U.S. soybeans.
Trump said he believes China is committing an “anti-economic act” by “deliberately not buying our soybeans and causing hardship for our soybean farmers.”
Ending deals with China over cooking oil and “other elements of trade” are possible forms of “retaliation” that Trump is weighing, he said in a Truth Social post.
“For example, we can easily produce cooking oil ourselves and don’t have to buy it from China,” he wrote.
The president’s latest criticism follows a series of critical comments he recently made about China. These statements raise questions about the status of ongoing trade negotiations and cause share prices to fluctuate.
The S&P 500 stock index fell immediately after Trump’s post, ending the trading day in the red after a volatile session.
Read more of CNBC’s coverage of the U.S.-China trade dispute
Stocks plunged on Friday after Trump threatened to massively increase tariffs on Chinese imports in retaliation for new export controls China imposed on rare earth minerals. Later that day, Trump said he would impose an additional 100% tariff on Chinese imports starting November 1.
But on Sunday, Trump appeared to soften his attack, writing: “Don’t worry about China, everything will be fine!”
Stocks largely recovered on Monday.
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