US Trade Rep Expects China to Buy Billions in Ag Products Annually
Quick Look
- 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.
AI-generated summary
US Trade Representative Jamieson Greer said on Friday that he expects to see China buy a 10-figure sum in agricultural products annually over the next three years, including soybeans and other unspecified items, but most of this estimate appears to be based on earlier soybean purchase agreements.
Meanwhile, Chinese analysts said any new purchases of products aside from soybeans would be incremental, as Beijing was reluctant to accept purchase demands that exceed its actual needs or hinder its goal of building up its domestic supply.
“Beijing will not accept purchase demands exceeding its actual needs or driven purely by political motives,” said Lin Shen, a researcher with the Institute of World Economics and Politics at the Chinese Academy of Social Sciences.
In 2024, before Trump’s second term and his renewal of the bilateral trade war, China imported about 27 million tonnes of American soybeans worth about US$12.6 billion, according to the USDA.
