BEIJING, May 16 (Bond.az) – China's commerce ministry announced that China and the United States have agreed to expand agricultural trade through tariff reductions and address non-tariff barriers after President Trump's Beijing summit.
The agreements are "preliminary" and will be "finalized as soon as possible," the ministry said. U.S. Department of Agriculture data shows China's farm imports from the U.S. fell 65.7% year-on-year to $8.4 billion in 2025.
Market watchers expect a 10% cut in soybean tariffs, potentially allowing private Chinese crushers to resume purchases. Beijing granted five-year registration extensions to 425 U.S. beef plants.
