U.S.-China Summit Leaves Key Agricultural Trade Issues Unresolved

U.S. farmers are awaiting more details on agricultural trade after President Donald Trump and China’s Xi Jinping concluded talks Thursday without announcing a broader trade agreement.  The countries extended their existing trade truce by two months, giving negotiators additional time to address tariffs, agricultural purchases and other disputes.

Treasury Secretary Scott Bessent said China is meeting an earlier commitment to purchase 25 million metric tons of U.S. soybeans annually but is behind on a pledge to buy $17 billion in other U.S. agricultural products.  China has yet to purchase U.S. corn for the current marketing year, while sorghum purchases have lagged expectations, according to Reuters.

Farm groups are seeking stronger purchase commitments and reduced Chinese tariffs on American agricultural products.  The trade truce now runs through January 10th as negotiations toward a broader agreement continue.

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