US President Donald Trump announced on Thursday that China had agreed to purchase “tremendous amounts” of soybeans and other agricultural goods following discussions with Chinese President Xi Jinping.
Speaking to reporters aboard Air Force One, Trump said both nations had reached broad consensus on several trade-related matters.
“We’re in agreement on so many elements… tremendous amounts of soybeans and other farm products are going to be purchased immediately,” he stated, emphasizing the scale and immediacy of the planned imports.
Trump also revealed that he had decided to reduce tariffs on fentanyl-related products from China to 10 percent, a move he said was part of wider negotiations with Xi Jinping during their talks in South Korea. He further declared that a lingering dispute between the two nations had been “settled,” suggesting a renewed phase of cooperation between Washington and Beijing.
What you should know
The agreement marks a potential turning point in US-China trade relations, which have been strained by years of tariff battles and geopolitical tension.
China’s commitment to buy large quantities of American soybeans and other farm goods offers relief to US farmers who have suffered from reduced exports. Trump’s decision to cut fentanyl-related tariffs could also ease supply chain pressures in the pharmaceutical sector.
While details of the broader agreement remain undisclosed, the announcement signals a temporary easing of economic friction between the world’s two largest economies.
