China's Ministry of Commerce met with Brazil's Foreign Minister to discuss trade, including soybean inspection standards and duty-free beef quotas. Both countries aim to boost agricultural trade.
Russia seeks to boost its economy by selling more oil and gas to China, but Beijing has concerns about overreliance and dollar dependence. Sanctions and Ukrainian drone threats pose further obstacles to a potential deal.
China has agreed to purchase U.S. soybeans and improve access to rare earths, the White House announced Sunday, following a summit between Presidents Trump and Xi. Agreements also include agricultural trade and aircraft purchases.
China has committed to purchasing at least $17 billion in US agricultural products annually until 2028, following a summit between Presidents Trump and Xi. This agreement, announced by the White House, is separate from prior soybean commitments and includes potential tariff reductions on mutual concerns.
US Trade Representative Jamieson Greer anticipates China will annually purchase billions in US agricultural products over the next three years. However, Chinese analysts suggest new purchases beyond soybeans will be incremental, as Beijing prioritizes domestic needs and supply goals.
Midwest soybean farmers are struggling with a combination of low crop prices, high input costs, and the lingering economic impacts of a trade war with China and conflict in the Middle East, leading to increased financial strain and rising bankruptcy risks.
