US EditionChina agrees to purchase 25 million metric tons of U.S. soybeans annually, treasury secretary says
- On Thursday, U.S. Treasury Secretary Scott Bessent said China pledged to buy 12 million metric tons of soybeans this season and to purchase at least 25 million metric tons annually for the next three years.
- Earlier this year, China halted purchases, which deprived American farmers of their largest export market and sparked congressional outrage after a U.S. bailout of Argentina led to increased Argentine soybean sales to China.
- Bessent noted on `Mornings with Maria` that China pledged to buy 12 million tons during this season and said `What I would expect is, as President Trump did in 2020, after President Xi had agreed to the phase one deal, he called him regularly and got him to buy more, and that number went up much higher.`
- Soybean futures initially fell then recovered after Bessent said China pledged to buy 12 million tons, helping U.S. farmers after last year's $13 billion exports.
- By the numbers, USDA data shows Chinese soybean imports rose more than 50% between 2019 and 2020 to top 34 million metric tons, with soybeans becoming a trade war flashpoint in recent weeks.
111 Articles
111 Articles
Freeport farmer reflects on season's struggles amidst U.S.-China Deal
Rockford, Ill (WTVO) — The U.S. Treasury Secretary announced that China has agreed to resume purchasing soybeans from U.S. farmers, providing a potential boost to the struggling agricultural sector. However, tariffs have already made an impact on farmers. Soybean farmer Greg Miller from Freeport has experienced firsthand the challenges posed by tariffs, which have significantly reduced profits for farmers like him. "The profits have definitely d…
Tentative trade deal between U.S. and China could bring relief to region's soybean farmers
GRAND FORKS — A trade deal between President Donald Trump and Chinese leader Xi Jinping means China is expected to purchase large quantities of U.S. soybeans, possibly bringing relief to soybean farmers who still have crops to sell. On Thursday, President Trump and U.S. Secretary of Agriculture Brooke Rollins announced a deal that will see China purchase at least 12 metric tons of soybeans this year, followed by purchases of at least 25 metric t…
997wpro.com
wjr.comSoybean Farmer to Newsmax: US-China Deal ‘Very Encouraging’
An Illinois soybean farmer says the new trade agreement between the United States and China is finally bringing a measure of relief to growers after a long stretch of depressed prices. Chris Gould, who farms near New Lebanon, Illinois, told Newsmax on Friday that the deal struck between President Donald Trump and Chinese President Xi Jinping is lifting optimism across farm country. “Well, it's obviously very encouraging,” Gould said on "National…
Capitol Fa - Your Illinois News Radar » Soybean deal with China won’t erase trade war damage, Illinois Ag Director saysCapitolFax.com
* The AP yesterday… American farmers welcomed China’s promise to buy some of their soybeans, but they cautioned this won’t solve all their problems as they continue to deal with soaring prices for fertilizer, tractors, repair parts and seeds. The Chinese promise to buy at least 25 million metric tons of soybeans annually for next three years [...]
Coverage Details
Bias Distribution
- 54% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
