After the Soviet Union invaded Afghanistan, then US president Jimmy Carter retaliated in 1980 with an embargo on American grain and soyabean sales to the socialist superpower.
It backfired. Russia occupied Afghanistan for years. The embargo also launched Brazil’s soyabean industry, now the US farmer’s arch-rival.
This cold war history is being recalled as trade tension rises between the US and China. China will sharply increase tariffs on US soyabeans next month in response to tough new duties from the Trump administration. The action may embolden Brazil’s producers to plant yet more beans, knowing their competitor is disadvantaged.
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