‘Missed opportunity’: US soybean farmers question exclusion from China tariff cuts
US soybean farmers have described the exclusion of US soybeans from China’s import list under the newly announced Board of Trade mechanism as a “missed opportunity”, even as Beijing ramped up purchases of the crop ahead of last week’s summit between Chinese President Xi Jinping and US President Donald Trump. The trade forum, unveiled by both sides on Sunday, covered a range of US agricultural…
US soybean farmers have criticized China's decision to exclude US soybeans from its list of agricultural products benefiting from tariff reductions, describing it as a "missed opportunity." This exclusion comes despite Beijing's significant purchases of US soybeans in the lead-up to the recent China-US trade summit, where both sides agreed to reduce tariffs on a range of US agricultural products.
The American Soybean Association, representing over 500,000 growers, expressed disappointment over the decision, arguing that China's 10% retaliatory tariff on US soybeans still hinders access for private Chinese importers. China's Ministry of Commerce announced that 77 categories of Chinese imports into the US and 1,619 US imports into China would benefit from tariff reductions, but soybeans remain excluded.
The exclusion has been seen as a deliberate decision, as China has already committed to purchasing 12 million metric tonnes of US soybeans in the 2025 season and 25 million metric tonnes in 2026.
Brief written by urgent.news from South China Morning Post's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
