China is the world’s largest market for soybeans. (Photo: Reuters) Following the meeting between US President Donald Trump and his Chinese counterpart Xi Jinping, the two countries have agreed to resume the trade of soybeans. The US said China has agreed to purchase 25 million metric tons of soybeans annually.
US-China soybean trade
The US is the second-largest producer of soybeans, with an estimated production of 120 million metric tons in the 2024-2025 season. China is the world’s largest market for soybeans, and for years, a significant portion of the American harvest was destined to Beijing.
China stopped buying US soybeans
In 2024, China imported 27 million metric tons of soybeans from the US worth around $12.6 billion. However, in May 2025, China stopped buying soybeans from the US after the two countries got into a bitter trade dispute over Trump’s tariffs.
China’s 23 per cent tariff on US shipments made the import of American soybeans unviable for importers.
In September, according to a Reuters report, China imported no soybeans from the United States, marking the first time since November 2018 that shipments fell to zero.
China, instead, tapped into Brazil and Argentina, the other two largest growers of soybeans, for its import. The Chinese ‘boycott’ hit the American soybean farmers hard as they struggled to find new buyers in the peak harvest season.
China to buy 12 million metric tons of soybeans by January
On Thursday, US Treasury Secretary Scott Bessent said that as part of the deal President Trump struck with Xi, China will start by purchasing 12 million metric tons of American soybeans between now and January.
“So you know, our great soybean farmers, who the Chinese used as political pawns, that’s off the table, and they should prosper in the years to come,” Bessent said in an interview on Fox Business Network’s “Mornings with Maria.”
He said the agreement lasts for three years.
