Iran's crude exports fell to about 0.5mn barrels a day in July and August from 2.6mn b/d in January, Aftab News reported on September 29. The fall coincides with a drop in imports by China, the main buyer of Iranian crude. China's seaborne crude imports averaged 7.14mn b/d in August, 4.27mn b/d below the average for the three months before the war began, Kpler data cited in the report show. Iranian crude output fell from 3.4mn b/d in January to 2.72mn b/d in July and 2.16mn b/d in August, according to the International Energy Agency. Valiollah Bayati, spokesman for the internal affairs commission of Iran's parliament, said lawmakers plan to question the oil minister over the cancellation of a sales contract with seven Chinese refineries. He said the two-year deal was signed under the 25-year Iran-China strategic cooperation programme and the oil ministry cancelled it after six months as the country continues to suffer from the US blockade. Iranian oil held on tankers at sea rose from about 20mn barrels in autumn 2025 to more than 60mn barrels in January. It has since stayed between 40mn and 50mn barrels, the Kpler data show. China has bought more Russian crude in the same period. Its seaborne imports from Russia reached 1.68mn b/d in August, up from 1.4mn b/d in July, and it receives about 1mn b/d from Russia by pipeline. Brent crude rose as high as $126.41 a barrel after the war began, which cut the incentive for Chinese refiners to buy more and led them to draw on stocks. Goldman Sachs expects China's crude imports to rise by only about 600,000 b/d in the fourth quarter from the third.

Australian grain-fed beef exports to China are surging as the trade war with the US escalates, but some are warning of a bigger, more worrying picture.

Warning Bells Ring As India Drowns In Chinese Imports, Trade Deficit Soars.

China imposes 34% tariffs on US imports starting April 10, escalating the trade war. India stands to gain from tariff shifts, with new opportunities in various sectors.

Importers attributed the rebound to delayed shipments, customs paperwork, post-tariff restocking, with average declared values falling.

The decline deepened a multiyear slump, leaving European exporters with excess premium stock, lower prices, dimmer hopes for recovery.

Imports rose 59.94% to 3.6 million liters, but value increased only 18.55% as cheaper labels gained share.

Imports rose 59.94% to 3.6 million liters, but value increased only 18.55% as cheaper labels gained share.

BEIJING (AP) — China announced Friday that it will impose a 34% tariff on imports of all U.S. products beginning April 10, part of a flurry of retaliatory measures following U.S. President Donald Trump’s “Liberation Day” slate of double-digit tariffs. The new tariff matches the rate of the U.S. "reciprocal" tariff of 34% on Chinese [...]

Trump defends 25% auto tariffs, citing U.S. manufacturing growth, job creation, and national security amid rising foreign imports.

CHICAGO (Reuters) - A surprising tariff pause between Beijing and Washington will not help U.S. farmers revive soy sales in China without additional concessions, producers said, because top-supplier Brazil still has a competitive price advantage. Under the truce announced on Monday, the United States will cut extra tariffs it imposed on Chinese imports to 30% from 145% for the next three months, while Chinese duties on U.S. imports will fall to 10% from 125%. Soybean export premiums fell in Brazil while U.S. futures prices hit a three-month high on the de-escalation, reflecting expectations that China could buy more from the U.S. But American farmers said the tariff pause isn’t enough. Brazil, the biggest soy supplier to China, has ample supplies from a record harvest, lower prices, and its farmers do not face the Chinese tariff that U.S. competitors do. China, the world’s largest crop importer, already sources roughly 70% of its soybean imports from Brazil. "The tariff that remains in place for U.S. soy is far from inconsequential," said Caleb Ragland, a farmer in Magnolia, Kentucky, and president of the American Soybean Association. "Products purchased from our competitors in Brazil and Argentina are not burdened with this extra cost." While the United States in 2022/23 accounted for about 28% of China’s soybean imports, it has been a critical market for U.S. farmers, representing more than half of U.S. soybean exports in the most recent marketing year. President Donald Trump’s trade war has hurt sales of American soybeans, sorghum and pork products to China and created a new opportunity for Brazil. Brazil aims to export even more agricultural goods to China, including sorghum, pork and chicken, and seize market share, said Luis Rua, who oversees foreign trade for Brazil’s Ministry of Agriculture. "What they (China) will buy is what they barely need to get by," Dan Henebry, a corn and soy grower in Buffalo, Illinois, said. "If South America is short... they’ll buy from us." Chinese buyers have also avoided U.S. wheat and bought 400,000 to 500,000 metric tons from Australia and Canada in recent weeks, traders said. U.S. farmers hope China may buy American farm goods as part of trade negotiations. However, Chinese importers will be reluctant to book large purchases because of remaining trade barriers and uncertainty over what will happen when the pause expires, said Even Rogers Pay, agriculture analyst at Trivium China. "There are a few things stacked up against this trade war ceasefire being a boon for farmers," Pay said. U.S. pork exported to China still faces a minimum total tariff rate of 57% during the pause, according to the National Pork Producers Council The pause is set to expire just before U.S. farmers begin harvesting soybeans and corn at the start of their new marketing season, an important time for exports. They planted fewer soybeans this spring than last year because the crop looked less profitable than corn. "If negotiations break down, buyers risk losses when cargoes arrive during the U.S. soybean marketing season," a China-based soy crusher said. "It’s just not worth the gamble." The truce did little to address underlying issues that led to the dispute, including the U.S. trade deficit with China. Beijing did not fulfill commitments to buy more U.S. agricultural products under a trade deal it struck with Trump during his first term in 2020. "The situation was bad before we started, and something needed to be done. The situation is still bad," said Ron Heck, a corn and soy farmer in Perry, Iowa. "It doesn’t appear that we solved anything after that turmoil," said Henebry. "We’re right back at the baseball plate trying to see if we’re going to hit a home run or strike out again."

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In a bold and controversial move, the Trump administration has confirmed that the United States will proceed with a 104% total tariff on Chinese imports, combining a new 50% duty with a previously ann...