SINGAPORE-- U.S.-China trade tensions are causing Singaporean agriculture conglomerates Olam International and Wilmar International to import from South America to avoid higher taxes.
Commodities trader Olam International, which reported its January-March earnings on Monday, said that Chinese soybean processors will import from Brazil after China threatened to impose a 25% tax on the crop in retaliation for U.S. vows to tax Chinese inbound goods.
