The Oil and Soybean Battle A New Trade Dispute

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00:00The battle between Trump and China this time is not in the fields of politics or

00:07weaponry. It has moved into the kitchen. The U.S. president hinting in a post on

00:13his ex-account that Washington could halt imports of cooking oil from China in

00:18response to Beijing's decision to stop importing soybeans from the United

00:22States, one of the main exports of American farmers.

00:26It was China trying to draw a wedge between the U.S. and Argentina by buying soybeans from

00:33Argentina, not U.S. farmers.

00:34I would say so.

00:35And China on port fees, they've used port fees on U.S. ships.

00:42Trade tensions between the two countries are escalating, with both sides taking reciprocal

00:48measures. China has tightened export controls on rare earth minerals, critical to global

00:54technology and energy industries. While Trump has threatened to impose 100% tariffs on Chinese

01:01imports in retaliation.

01:08But this new oil and soybean battle may go far beyond the kitchen, all the way to fuel tanks.

01:28Used Chinese cooking oil is recycled and refined into biofuel and clean diesel, meaning that any

01:35U.S. ban on its import could deliver a direct blow to America's renewable energy sector.