China will buy $12 million worth of soybeans from the United States this crop year and $25 million worth over the next three years.
United States treasury secretary Scott Bessent said other countries in Southeast Asia have agreed to buy another 19 million tons of U.S. soybeans, but did not specify a timeframe for those purchases.
China’s purchase is a small part of an agreement to drop the recent tariffs and trade barriers both countries imposed to punish each other.
