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China, Russia Vow to Increase Soybean Trade

China looks to fill gap left by trade war with U.S.

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As China looks to diversify its soybean supply away from the United States, Commerce Minister Zhong Shan agreed with Russian counterparts to “deepen trade in soybeans and other agricultural products” during a meeting this week, reports the South China Morning Post.

Zhong, a recent addition to Beijing’s negotiating team in trade war talks with Washington met with the Russian minister for economic development Maxim Oreshkin on Tuesday to discuss ways in which the two countries could increase bilateral trade, according to a statement released by China’s Commerce Ministry on Thursday.

Russian President Vladimir Putin said Russia would increase its production and export of soybeans to China in a bid to fill the gap in the market left by the U.S.

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