China Lags on $17B Farm Pledge as Xi Visit Nears Tariff Deadline
China has bought only $3.9 billion in U.S. farm goods through July, far below the pace needed to meet its annual pledge, USDA data show.
- President Donald Trump hosts Chinese President Xi Jinping as China trails its May pledge to purchase at least $17 billion in U.S. agricultural goods annually through 2028.
- Treasury Secretary Scott Bessent said Monday that deliverables from last fall's trade truce 'have not been completely fulfilled,' with agricultural imports remaining well below the required pace.
- Agriculture Department data shows China bought just $3.9 billion in non-soybean farm goods through July, though Iowa soybean farmer Dave Walton said China appears on track toward a separate pledge to buy 25 million metric tons of soybeans this year.
- Trade Representative Greer's team met with Chinese officials Sunday to discuss a proposed '30-by-30' deal to lower tariffs on 'non-critical goods,' with the trade truce set to expire Nov. 10.
- National Sorghum Producers CEO Tim Lust said trade has been 'really good at times' and 'really slow at times,' as the industry hopes current talks will establish more consistent trade volume.
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China lags on $17B farm pledge as Xi visit nears tariff deadline - The Daily Bo Snerdley
(The Center Square) – China remains behind on its May pledge to buy U.S. farm goods as President Donald Trump hosts Chinese President Xi Jinping, with a trade truce set to expire Nov. 10. The talks could decide whether suspended higher tariffs on some Chinese imports take effect, whether U.S. farmers see the sales Beijing promised and whether the two countries extend the one-year truce they reached last fall. The Tax Foundation, a nonpartisan …
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China’s U.S. Farm Purchases Remain Slow
(NAFB.com) – China’s purchases of U.S. agricultural products remain well below the pace needed to meet a recently announced trade commitment. The White House said in May that China would purchase at least 17 billion dollars of
Questions remain over China’s $17 billion U.S. ag purchase commitment
Questions remain about China’s ag purchase commitments as the U.S. and China meet tomorrow. “You never know in these high level discussions what you’ll walk out with.” says Justin Benavidez, the chief economist at the USDA. Benavidez says China has been making progress on its 25 million metric ton soybean commitment, but what’s happening with […] The post Questions remain over China’s $17 billion U.S. ag purchase commitment appeared first on Bro…
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