"Beijing paused any purchase of U.S. soybeans last summer during its trade war with Washington but agreed to resume buying from American soybean farmers after Trump and Chinese leader Xi Jinping met in South Korea and agreed to a truce. Treasury Secretary Scott Bessent announced the purchasing milestone China has met in an interview with Maria Bartiromo on Fox Business on Tuesday from the sidelines of a major economic forum in Davos, Switzerland, where Bessent met with his Chinese counterpart, Vice President He Lifeng."
"China has fulfilled its initial commitment to buy 12 million metric tons of soybeans from the U.S., but it's not clear if the trade agreement announced in October can withstand President Donald Trump's ever-shifting trade policy as American farmers are still dealing with high production costs. "Those new tariffs - what does that mean for this agreement? Does it throw it out? Is it still binding? That's sort of the game here now," Hart said."
China fulfilled its initial commitment to buy 12 million metric tons of soybeans from the U.S. Rapidly changing U.S. trade policy and high American farm production costs cast doubt on whether the broader October agreement can hold. President Trump threatened 25% tariffs on countries that buy from Iran and 10% tariffs on eight European allies over Greenland, moves that could affect China. Iowa State economist Chad Hart warned such tariffs could undermine the deal and jeopardize China's pledge to buy 25 million metric tons annually for three years. Treasury Secretary Scott Bessent said China completed the purchases and remains committed.
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