Soyabean slides due to impact of US tariffs

NEW YORK: Soyabeans slid on Friday as the Trump administration hit the world’s biggest importer of soya with tariffs on tens of billions of dollars-worth of goods, a move Beijing has said it will push back on with its own taxes on major American agricultural goods.

Soyabeans were down 2.38 per cent to $9.04 a bushel at 8:45 am. Futures for November delivery fell 1.9 per cent on CBoT to the lowest level in a year.

President Trump said the US will go through with threats to impose a 25 per cent tariff on $50 billion worth of Chinese goods.