White House announces broad new tariffs, catching many supplement ingredients in the net

After 384 past bearish trade events, Soybean Meal moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and -0.5% over 20.

• Jun 16, 2018Trump's tariffs: What they are and how China is responding | AP News+0.1%
• Jun 29, 2018USDA supply/demand forecast could factor in Mexico, China tariffs - The Business Times+2.5%
• Jun 15, 2018China announces retaliatory tariffs on $34 billion worth of US goods, including agriculture products-3.3%
• Jul 18, 2018Soymeal Market Remains Calm in China Despite Tariffs-0.1%
• Aug 23, 2019China strikes back at U.S. with new tariffs on $75 billion in goods | Reuters-0.6%

After 803 past bearish trade events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% over 20.

• Jul 9, 2018As Tariffs Bite, China Cancels U.S. Soy Deals and Hunt Is on for New Export Markets-6.9%
• Jun 16, 2018Trump's tariffs: What they are and how China is responding | AP News-1.2%
• Apr 12, 2025White House looks at how to help farmers hurt by China tariffs : NPR-1.3%
• Jun 28, 2018China to remove tariffs on feed ingredients from 5 countries | Feed Strategy-3.7%
• Aug 1, 2019Oil slumps 7% as Trump announces additional tariffs on Chinese imports-1.8%

After 40 past bullish trade events, Chinese Yuan (CNY per USD) moved a median +0.6% over 5 sessions (75% higher; middle half +0.0% to +1.4%), and +1.1% over 20.

• May 13, 2019Forex Market: Yuan weakest since December as China adds tariffs+1.4%
• Feb 4, 2025US dollar edges lower as China tariffs kick in+0.9%
• Jul 20, 2018Trump threatens tariffs on all $500 billion of Chinese imports+0.2%
• Jun 22, 2019Goldman Sachs says to short Chinese yuan ahead of the G20 meeting next week-0.1%
• Nov 7, 2024China’s yuan falls to near 3-month low on weaker fixing, tariff worries - Markets - Business Recorder+0.7%