U.S. Trade Representative Jamieson Greer said Friday, the United States expects China to agree to purchase “double-digit billions” of dollars in U.S. agricultural products annually following a summit between President Donald Trump and Chinese President Xi Jinping in Beijing. Greer said the anticipated agreement would extend beyond soybeans to include a broader range of agricultural goods over the next three years. He referenced an existing agreement under which China committed to buying 25 million metric tons of U.S. soybeans annually.
Trump also said China would increase purchases of American farm products following the summit, though specific commodities and volumes were not immediately disclosed. Soybeans remain the top U.S. agricultural export to China and have long been central to trade negotiations between the two countries. Traders are also monitoring whether China could reduce soybean tariffs, potentially reopening purchases by private Chinese importers.
-NAFB