Abstract: Since 2018, Sino-Us trade friction have occurred frequently. The COVID-19 pandemic has continued to ferment globally, and the uncertainty of soybean trade has intensified. This paper analyzed the impact of multiple shocks on soybean international trade and China′s soybean industry security. It is pointed out that the source of soybean import was highly concentrated in China, and the instability of soybean market caused by exogenous shock brings hidden danger to the long-term development of China’s soybean trade, but it also had potential development opportunity. China should make good use of the opportunity of exogenous shocks, and actively broaden the source of soybean imports combined with the initiative of ‘The Belt and Road’ to reduce the risk of high dependence on imports, and ensure the sustainable, safe and healthy development of China′s soybean industry.