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Al Jazeera
Al Jazeera
Business
Al Jazeera Staff

Soya beans: China and EU’s secret weapon against Trump’s tariff wars?

European Union Donald Trump China United States Mike Johnson
A farmer harvests soya beans on October 18, 2022 near Ayers, Tennessee [Scott Olson /Getty Images via AFP]

European Union countries approved a set of retaliatory levies on the United States on Wednesday in response to President Donald Trump’s sweeping tariffs on America’s trade partners.

The tit for tat, which goes into force on April 15, comes as China also retaliated against Trump’s tariffs this week. The unfolding tariff spat has destabilised global markets and seen stocks fall across the board.

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