Packets of raw soybeans are placed on a table at a U.S. soybean company’s booth at the international soybean exhibition in Shanghai, China, on April 12. With the threat of tariffs and counter-tariffs between Washington and Beijing looming, Chinese buyers are canceling orders for U.S. soybeans, a trend that could deal a blow to American farmers if it continues. At the same time, farmers in China are being encouraged to plant more soy, apparently to help make up for any shortfall from the United States. (AP Photo/Andy Wong, File)

Packets of raw soybeans are placed on a table at a U.S. soybean company’s booth at the international soybean exhibition in Shanghai, China, on April 12. With the threat of tariffs and counter-tariffs between Washington and Beijing looming, Chinese buyers are canceling orders for U.S. soybeans, a trend that could deal a blow to American farmers if it continues. At the same time, farmers in China are being encouraged to plant more soy, apparently to help make up for any shortfall from the United States. (AP Photo/Andy Wong, File)

US firms seek tariff relief as US and China try to mend rift

The prospect of an escalating trade war has rattled financial markets and alarmed many businesses.

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