Key Facts
• U.S. Treasury Secretary Bessent announced China’s agreement to buy U.S. soybeans.
• China will purchase 25 million tons annually for three years starting 2025.
• By January 2025, China will have purchased 12 million tons of U.S. soybeans.
• Agreement stems from a meeting between President Trump and President Xi Jinping.
• U.S.-China trade deal, including soybean imports, may be signed next week.
Summary
China has agreed to significantly increase its imports of U.S. soybeans, committing to purchase 25 million tons annually for three years starting in 2025. This agreement follows discussions between U.S. President Donald Trump and Chinese President Xi Jinping. U.S. Treasury Secretary Bessent confirmed that China will also purchase 12 million tons by January 2025. The expanded soybean imports are part of a broader U.S.-China trade deal, which is expected to be signed next week. This development marks a significant step in improving trade relations between the two nations.
