US-China Trade: Soybean Purchases Top Agenda for Trump and Xi Meeting

A meeting between President Donald Trump and Chinese leader Xi Jinping is planned within the next four weeks, with the main focus being on US soybean purchases. Trump stated that the meeting will address the challenges faced by American farmers because of trade conflicts. He communicated on his Truth Social platform that China’s reluctance to buy soybeans is harming US farmers, emphasizing that soybeans will be a major subject of discussion during the meeting with President Xi. Before this, Trump mentioned the possibility of meeting Xi at the APEC summit in South Korea in late October, and a future visit to China. Earlier this year, the US and China engaged in a trade war, implementing higher tariffs on each other’s exports. Although there have been efforts to reduce tensions, the situation remains unstable. Trump has expressed interest in using US tariff revenue to assist American farmers. He also criticized former President Joe Biden for not enforcing a previous trade agreement with China, which included provisions for increased agricultural purchases. The American Soybean Association (ASA) has urged Trump to make soybeans a top priority in trade talks with China. They warned that China’s retaliatory tariffs are preventing American farmers from selling to their largest export market, as the 2025 soybean harvest is approaching. China is a leading soybean buyer, and the United States has historically been a key supplier. ASA President Caleb Ragland stated that the US has made zero sales to China in this crop year due to the 20 percent retaliatory tariffs imposed by China, benefiting other exporters like Brazil and Argentina.