2018年CRI China-US trade disputes only temporary difficulties: expert

 

Despite being one of the numerous US products facing potential import sanctions in the escalating¹ trade tensions between Washington and Beijing, the US soybean lobby is still holding out optimism about future trade ties between China and the US.

In the aftermath of the Trump² Administration announcing potential tariffs⁴ on various Chinese products, as well as potential investment restrictions⁵, China swung back in the first salvo of what some are suggesting is the start of a potentially damaging trade war.

Among the potential first casualties on the US side are soybean producers.

Since launching imports of US soybeans in 1995, China is now the United States number-1 market for the commodity, which is used as both livestock⁶ feed and as the main ingredient in tofu, a staple⁷ in the Chinese diet.

Last year, 62% of all US soybean exports found their way to China.

As such, the potential impact of a 25% tariff³ on soybean exports to China has the US soybean lobby worried.

Zhang Xiaoping is the China Country Director of the US Soybean Export Council.

"For China, China started importing soybean since 1995 and 1996. That's the beginning year. First is in the form of soybean meal. Soybean meal is the most cost-effective protein meal – vegetable protein for animals. So I should say China's demand for soybeans is mostly driven by its demand for soybean meal."

Over the past couple of decades, soybean production has become a major part of the US agriculture sector⁸, surpassing corn last year as the largest cash crop in the United States. 

Zhang Xiaoping notes the US is now only behind Brazil as the world's second largest soybean exporter.

"For the main destinations of US soy... you know US (soybean) industry exports like 60% of its production, in the forms of whole beans, soybean meal and soybean oil, out of that about like 85% are export of soybeans, like a 15% is soybean meal and very little of soybean oil. So in terms of soybean export, China is the number one customer. You know China's share in the total soybean export is like 62% last year."

Citing a study from Purdue University, Zhang Xiaoping says if Chinese authorities do impose a 25% tariff on US soybean imports, many US farmers are going to feel the pinch.

"You know currently the US soybean farmers, their margin⁹ is pretty pretty thin. And some farms are even at the edge of bankruptcy¹⁰. So if there's this kind of 25% tariffs and further declining in the prices. The farmers cannot afford by continuing their farming practices. So some will go out of business. So this is really… the so-called devastating¹¹ effect."

Headquartered in Missouri, US Soybean Export Council is the main lobby group for soybean producers in the US, conducting international marketing¹² programs for U.S. soybean producers, commodity shippers, merchandisers, allied¹³ agribusinesses and agricultural organizations.

Since the establishment of its office in Beijing in 1982, the US Soybean Export Council has been working closely with the Chinese agriculture sector.

While concerned about the potential impact of possible Chinese tariffs in the near term, Zhang Xiaoping says they still believe China and the US will eventually weather the current storm. 

"I personally think this is something temporary. The overall China-US relations will be improving, will be stronger – the relations, the ties will be stronger. So I should say currently these are temporary difficulties we are now facing. It will be gone."

1 escalating   

v.（使）逐步升级( escalate的现在分词 )；（使）逐步扩大；（使）更高；（使）更大

参考例句：

• The cost of living is escalating. 生活费用在迅速上涨。 来自《简明英汉词典》
• The cost of living is escalating in the country. 这个国家的生活费用在上涨。 来自辞典例句

2 trump   

n.王牌，法宝；v.打出王牌，吹喇叭

参考例句：

• He was never able to trump up the courage to have a showdown.他始终鼓不起勇气摊牌。
• The coach saved his star player for a trump card.教练保留他的明星选手，作为他的王牌。

3 tariff   

n.关税，税率；(旅馆、饭店等)价目表，收费表

参考例句：

• There is a very high tariff on jewelry.宝石类的关税率很高。
• The government is going to lower the tariff on importing cars.政府打算降低进口汽车的关税。

4 tariffs   

关税制度； 关税( tariff的名词复数 )； 关税表； （旅馆或饭店等的）收费表； 量刑标准

参考例句：

• British industry was sheltered from foreign competition by protective tariffs. 保护性关税使英国工业免受国际竞争影响。
• The new tariffs have put a stranglehold on trade. 新的关税制对开展贸易极为不利。

5 restrictions   

约束( restriction的名词复数 )； 管制； 制约因素； 带限制性的条件（或规则）

参考例句：

• I found the restrictions irksome. 我对那些限制感到很烦。
• a snaggle of restrictions 杂乱无章的种种限制

6 livestock   

n.家畜，牲畜

参考例句：

• Both men and livestock are flourishing.人畜两旺。
• The heavy rains and flooding killed scores of livestock.暴雨和大水淹死了许多牲口。

7 staple   

n.主要产物，常用品，主要要素，原料，订书钉，钩环；adj.主要的，重要的；vt.分类

参考例句：

• Tea is the staple crop here.本地产品以茶叶为大宗。
• Potatoes are the staple of their diet.土豆是他们的主要食品。

8 sector   

n.部门，部分；防御地段，防区；扇形

参考例句：

• The export sector will aid the economic recovery. 出口产业将促进经济复苏。
• The enemy have attacked the British sector.敌人已进攻英国防区。

9 margin   

n.页边空白；差额；余地，余裕；边，边缘

参考例句：

• We allowed a margin of 20 minutes in catching the train.我们有20分钟的余地赶火车。
• The village is situated at the margin of a forest.村子位于森林的边缘。

10 bankruptcy   

n.破产；无偿付能力

参考例句：

• You will have to pull in if you want to escape bankruptcy.如果你想避免破产，就必须节省开支。
• His firm is just on thin ice of bankruptcy.他的商号正面临破产的危险。

11 devastating   

adj.毁灭性的，令人震惊的，强有力的

参考例句：

• It is the most devastating storm in 20 years.这是20年来破坏性最大的风暴。
• Affairs do have a devastating effect on marriages.婚外情确实会对婚姻造成毁灭性的影响。

12 marketing   

n.行销，在市场的买卖，买东西

参考例句：

• They are developing marketing network.他们正在发展销售网络。
• He often goes marketing.他经常去市场做生意。

13 allied   

adj.协约国的；同盟国的

参考例句：

• Britain was allied with the United States many times in history.历史上英国曾多次与美国结盟。
• Allied forces sustained heavy losses in the first few weeks of the campaign.同盟国在最初几周内遭受了巨大的损失。