Japan is considering increasing the import of American soybeans to help compensate for the export loss to China, according to the Nikkei newspaper. Simultaneously, Japan is also attempting to persuade the Trump administration to cancel tariffs.
The chief negotiator of Japan’s tariff talks, Ryohei Akasawa, is set to visit the United States from April 30 to May 2 to meet with US Treasury Secretary Bezent and other officials from the Trump administration.
Akasawa expressed that Japan is seeking a comprehensive agreement with Washington. Soybeans are one of the largest agricultural export products for the United States and are a significant bargaining chip for Japan in negotiations.
Japan’s soybean imports are handled by private companies. In 2024, the total soybean import volume in Japan increased by 0.5% to reach 3.17 million tons. Among them, the US accounts for 65.7%, Brazil 23.4%, and Canada 10.4%.
The Japanese government may request companies to increase their imports of soybeans from the US.
In 2023, 54.3% of US soybean exports went to China. However, China reduced its purchases of American soybeans before President Trump’s inauguration in January. Trump initiated a trade war with Beijing during his first term and announced increased tariffs on many countries upon returning to the White House.
According to the Nikkei newspaper, Beijing has frozen orders for American soybeans and corn since mid-January, reducing agricultural imports from the US while increasing purchases from countries like Brazil. Beijing is working to decrease the import of other American agricultural products. Data released by the General Administration of Customs of China last Sunday shows a 90% year-on-year decrease in cotton imports in March measured in US dollars. From January to March this year, China’s imports of American wheat were only 1% of the same period last year.
The tariffs imposed by the US on imports from China have now reached 145%, while China has raised tariffs on American goods to 125%.
President Trump posted on the Truth Social network on April 15, stating, “Our farmers are very good, but because of their excellence, whenever there are trade negotiations or this trade war, they are always at the ‘front lines’ with China and other opponents.”
Trump emphasized, “America will protect our farmers!”
Caleb Ragland, a soybean farmer from Mulan City, Kentucky, and chairman of the American Soybean Association, stated that he is actively discussing with the Trump administration. “We need trade, we need trade agreements. This is the bottom line. I believe the president wants the same. I believe he cares about our country. But we need to engage in trade; we need opportunities now.”
When asked if he hopes Trump will repeal tariffs, Ragland said he hopes he can secure the best possible agreement. If that means imposing tariffs in the short term, it is good. However, a prolonged tariff war is not sustainable as farmers find it difficult to withstand it for years.