Trade Rep Says China Commits to Ag Buys

By Chris Clayton, DTN Ag Policy Editor, and Jerry Hagstrom, DTN Political Correspondent

OMAHA (DTN) -- Coming out of a two-day summit in China, U.S. Trade Representative Jamieson Greer said Friday China agreed to buy more than "double-digit billions" in agricultural products over the next three years, though there were no specific details on what would be included.

In an interview with Bloomberg Television, Greer talked about success "trying to rebalance our trade with China." He said the trade deficit was down and there are multiple industries in which the U.S. wants to sell more to China, including Boeing jets "or soybeans or other ag or energy or medical devices, and you can see us bit by bit building up this strategy coming out of this week."

Greer added, "We expect to also see double-digit billions purchases of ag (products) over the next three years per year coming out of this visit and that's aggregate," Greer said. "That's not just soybeans. That's everything else."

Grain markets took a dive on Thursday after traders were apparently frustrated with the lack of specifics coming out of the two-day summit between President Trump and Chinese President Xi Jinping. July soybeans on Thursday dropped more than 36 cents a bushel as the market expressed frustration.

In his interview, Greer noted China also renewed permits for meatpackers to again export beef to China. Those export permits had been suspended for more than a year. Yet there were questions about how many export permits were approved because initially 600 packing plants were cleared then that was rolled back by Chinese officials to 200 permits by the end of Thursday.

In a press conference Friday, a spokesman for the Chinese Ministry of Foreign Affairs was asked if there were further agricultural deals that had been reached during Trump's visit. Without offering any specifics, the spokesman essentially said there was understanding both sides would "continuously expand the list of cooperation and deliver for both sides in the spirit of equality, respect and mutual benefit."

The two countries had different takes coming out of the two-day summit.

In a readout on the meeting between President Trump and Chinese President Xi Jinping in Beijing, the White House said on X, "The presidents also highlighted the need to build on progress in ending the flow of fentanyl precursors into the United States as well as increasing Chinese purchases of American agricultural products."

The Chinese Foreign Ministry said in its summary, "Yesterday, the economic and trade teams of the two countries reached a generally balanced and positive outcome, which is good news for the people of both countries and the world. Both sides should work together to maintain the hard-won positive momentum."

"China's door to opening up will only open wider, and American companies are deeply involved in China's reform and opening up. China welcomes the U.S. to strengthen mutually beneficial cooperation with China."

Greer, in his Bloomberg interview, pointed to the U.S.-China deal for soybeans, which included 12 million metric tons (mmt) earlier this year, following up with 25 mmt per year for three years. Greer noted China met that 12-mmt obligation and continues to make purchase commitments.

"We expect most of the soybean sales to go on in the later part of this year, but we've already seen some there already," Greer said.

On Thursday, Scott Metzger, an Ohio farmer and president of the American Soybean Association, issued a statement that soybean farmers hoped to see additional soybean purchases this marketing year, as well as continued progress toward fulfilling future purchase commitments.

"As U.S. soybean farmers plant our 2026 crop, we are looking forward to a successful harvest to fulfill China's purchase commitments," Metzger said. "Greater certainty and consistency in the marketplace help provide farmers with the confidence they need as they make decisions for the year ahead."

ASA noted, "At the previous trade summit between the two nations, China committed to purchase 25 million metric tons (mmt) of soybeans annually through 2028 -- an increase from the current marketing year commitment of 12 mmt.

"U.S. soybean growers are committed to supplying a high-quality, reliable product to customers around the world and look forward to policies and trade outcomes that strengthen demand, improve competitiveness, and support long-term growth for American agriculture."

Chris Clayton can be reached at Chris.Clayton@dtn.com

Follow him on social platform X @ChrisClaytonDTN

Jerry Hagstrom can be reached at jhagstrom@nationaljournal.com

Follow him on social platform X @hagstromreport

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