Under the agreement, each side proposed a list of non-sensitive goods worth around $30 billion that would receive more favourable tariff treatment.
According to U.S. Trade Representative Jamieson Greer, the arrangement should improve access to the Chinese market for products accounting for around 30% of U.S. exports to China.
The agreement was one of the outcomes of the second meeting this year between Chinese President Xi Jinping and U.S. President Donald Trump. However, the two sides have not yet disclosed either the exact size of the tariff reductions or the timetable for their implementation.
China to Cut Tariffs on a Range of Agricultural Products
China’s list of U.S. products expected to receive tariff relief includes corn, wheat, sorghum, meat, dairy products, vegetable oils and meals.
However, non-seed soybeans were not included. In 2025, U.S. exports of soybeans to China were worth $16.2 billion, making soybeans the largest U.S. agricultural export item to the Chinese market.
The American Soybean Association expressed disappointment with the decision. According to the organisation, maintaining China’s 10% tariff will continue to limit the competitiveness of U.S. soybeans for private Chinese buyers.
Following the announcement, soybean futures on the Chicago Board of Trade fell sharply, reflecting market disappointment over the absence of tariff concessions for soybeans.
Trade Truce Extended Until January
The United States and China also agreed to extend their trade truce by another two months, until 10 January.
China’s Ministry of Commerce said the additional time should allow both sides to assess the implementation of the existing arrangements and continue negotiations on economic and trade issues.
A separate agricultural working group is also expected to be established. Its first meeting is due to take place before the end of the year and will focus on mutual market access and regulatory issues.
In addition, as part of the negotiations, China agreed to import 10 million tonnes of coal from the United States annually in both 2027 and 2028.
PigUA.info, based on materials from thepigsite.com