BEIJING: A vessel carrying soybeans from the United States, which has been anchored off China’s coast for more than a month since hefty tariffs were imposed, entered the port of Dalian on Saturday, according to Thomson Reuters Eikon shipping data.
The short journey into the northern Chinese port is the first by Peak Pegasus, which has 70,000 tons of US soybeans on board, since the ship arrived off the coast on July 6 just hours after Beijing imposed 25 percent import duties on $34 billion worth of US goods, including soybeans.
The penalties were in response to a similar move by Washington as part of a tit-for-tat trade dispute between the world’s two largest economies.
The ship was moored in the port just after midnight on Sunday morning, according to the latest data.
The move into the dock suggests the cargo may be about to be unloaded, becoming the first US soybean shipment to incur the new penalties as the trade dispute deepens. China’s state grain stockpiler Sinograin is the buyer of the shipment, according to a source familiar with the matter.
Another ship carrying US soybeans, Star Jennifer, has been anchored off Dalian since arriving on July 24.
The final stages of Peak Pegasus’ one-month journey to Dalian captured public attention in China as it became uncertain if it would arrive in time before the duties kicked in.
Last month, Chinese state media deployed the legume in a political cartoon aimed at undermining support for the trade dispute among US farmers, key supporters of US President Donald Trump.
Soybeans, which are used to make cooking oil and animal feed, are the top US agricultural export to China, with the trade worth $12.7 billion in 2017.
Last week, the Trump administration said it would start collecting tariffs on another $16 billion worth of Chinese imports from Aug. 23, as it tries to put pressure on China to negotiate trade concessions. Beijing has said it will retaliate in kind.
US soybean cargo enters Chinese port after weeks at anchor amid trade row
US soybean cargo enters Chinese port after weeks at anchor amid trade row
- Soybeans, which are used to make cooking oil and animal feed, are the top US agricultural export to China
- The final stages of Peak Pegasus’ one-month journey to Dalian captured public attention in China
First EU–Saudi roundtable on critical raw materials reflects shared policy commitment
RIYADH: The EU–Saudi Arabia Business and Investment Dialogue on Advancing Critical Raw Materials Value Chains, held in Riyadh as part of the Future Minerals Forum, brought together senior policymakers, industry leaders, and investors to advance strategic cooperation across critical raw materials value chains.
Organized under a Team Europe approach by the EU–GCC Cooperation on Green Transition Project, in coordination with the EU Delegation to Saudi Arabia, the European Chamber of Commerce in the Kingdom and in close cooperation with FMF, the dialogue provided a high-level platform to explore European actions under the EU Critical Raw Materials Act and ResourceEU alongside the Kingdom’s aspirations for minerals, industrial, and investment priorities.
This is in line with Saudi Vision 2030 and broader regional ambitions across the GCC, MENA, and Africa.
ResourceEU is the EU’s new strategic action plan, launched in late 2025, to secure a reliable supply of critical raw materials like lithium, rare earths, and cobalt, reducing dependency on single suppliers, such as China, by boosting domestic extraction, processing, recycling, stockpiling, and strategic partnerships with resource-rich nations.
The first ever EU–Saudi roundtable on critical raw materials was opened by the bloc’s Ambassador to the Kingdom, Christophe Farnaud, together with Saudi Deputy Minister for Mining Development Turki Al-Babtain, turning policy alignment into concrete cooperation.
Farnaud underlined the central role of international cooperation in the implementation of the EU’s critical raw materials policy framework.
“As the European Union advances the implementation of its Critical Raw Materials policy, international cooperation is indispensable to building secure, diversified, and sustainable value chains. Saudi Arabia is a key partner in this effort. This dialogue reflects our shared commitment to translate policy alignment into concrete business and investment cooperation that supports the green and digital transitions,” said the ambassador.
Discussions focused on strengthening resilient, diversified, and responsible CRM supply chains that are essential to the green and digital transitions.
Participants explored concrete opportunities for EU–Saudi cooperation across the full value chain, including exploration, mining, and processing and refining, as well as recycling, downstream manufacturing, and the mobilization of private investment and sustainable finance, underpinned by high environmental, social, and governance standards.
From the Saudi side, the dialogue was framed as a key contribution to the Kingdom’s industrial transformation and long-term economic diversification agenda under Vision 2030, with a strong focus on responsible resource development and global market integration.
“Developing globally competitive mineral hubs and sustainable value chains is a central pillar of Saudi Vision 2030 and the Kingdom’s industrial transformation. Our engagement with the European Union through this dialogue to strengthen upstream and downstream integration, attract high-quality investment, and advance responsible mining and processing. Enhanced cooperation with the EU, capitalizing on the demand dynamics of the EU Critical Raw Materials Act, will be key to delivering long-term value for both sides,” said Al-Babtain.
Valere Moutarlier, deputy director-general for European industry decarbonization, and directorate-general for the internal market, industry, entrepreneurship and SMEs at European Commission, said the EU Critical Raw Materials Act and ResourceEU provided a clear framework to strengthen Europe’s resilience while deepening its cooperation with international partners.
“Cooperation with Saudi Arabia is essential to advancing secure, sustainable, and diversified critical raw materials value chains. Dialogues such as this play a key role in translating policy ambitions into concrete industrial and investment cooperation,” she added.
