Yandex metrika counter
China signals tariff cuts, advances in farm market access after Trump-Xi summit
Source: Reuters

China and the United States have agreed to expand agricultural trade through tariff reductions and tackle non-tariff barriers and market ​access issues, China's commerce ministry said on Saturday after this week's summit in ‌Beijing, opens new tab.

The agreements are "preliminary" and will be "finalised as soon as possible," the ministry said following U.S. President Donald Trump's visit , News.az reports, citing Reuters.

China's farm imports from the U.S. still face an additional 10% levy after last ​year's rounds of tit-for-tat tariffs sharply curtailed trade, which fell 65.7% year-on-year ​to $8.4 billion in 2025, according to U.S. Department of Agriculture data
The commerce ⁠ministry said both sides aim to promote two-way trade, including in agricultural products, through ​measures such as reciprocal tariff reductions across a range of goods. It did not ​specify which products.

China resumed purchases of some U.S. farm goods after an October meeting, fulfilling a U.S.-stated commitment to buy 12 million metric tons of soybeans by the end of February. It has also ​purchased some U.S. wheat cargoes and large volumes of sorghum.

Market watchers expect a 10% cut in ​soybean tariffs, which could allow private Chinese crushers to resume purchases that were largely sidelined during ‌last ⁠year's U.S. harvest, when state crop traders were the only buyers.

"Tariff reductions on agricultural products would mark a normalization of China-U.S. farm trade, allowing commercial buyers to re-enter the market," said Johnny Xiang, founder of Beijing-based AgRadar Consulting.

The ministry said both sides ​agreed to "resolve or make ​substantive progress" on ⁠non-tariff barriers and market access issues.

China will work to address U.S. concerns over registration of beef facilities and poultry exports from ​certain U.S. states, it said.

Beijing on Friday granted five-year registration extensions to ​425 U.S. ⁠beef plants that had largely been shut out after their registrations lapsed last year, and approved new five-year registrations for 77 additional U.S. facilities.

U.S. Trade Representative Jamieson Greer said ⁠on ​Friday the U.S. expects China to buy "double-digit billions" worth ​of U.S. farm goods over the next three years, although neither side has yet released details on specific ​products, values or volume.


News.Az 

By Faig Mahmudov

Similar news

Archive

Prev Next
Su Mo Tu We Th Fr Sa
  1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31