Overview
- Following talks in South Korea, President Trump said China will immediately buy “tremendous amounts” of U.S. soybeans and other farm goods.
- Trump said President Xi authorized purchases of massive amounts of soybeans, sorghum and additional agricultural products.
- An Illinois Soybean Association official reported that China had already begun buying some of the current U.S. harvest before the meeting.
- The agreements also featured a 10% fentanyl tariff, a one-year pledge by China to forgo rare-earth controls, Nvidia chip export discussions, and a postponed U.S. Section 301 probe, with a Trump visit to China planned for April.
- The meeting marked the leaders’ first in-person session since Trump returned to the White House, and U.S. farmers welcomed the reopening of sales.