China, Soybean and trade deal
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U.S. Treasury Secretary Scott Bessent admitted Thursday that President Donald Trump’s supposedly triumphant talks about a rare earths deal with China were far from finished. Speaking on Fox News, Bessent touted Trump’s recent efforts in getting China to agree to pause export controls on its rare earth minerals supply for one year.
President Trump told reporters as he flew into Japan that he expects to have a trade agreement with China finalized by the end of his tour of Asia.
Lane Akre, economist with Pro Farmer, says soybeans have priced in the optimism about a China trade deal and had muted reaction to news of the first China soybean purchases of the 2025-26 marketing year.
The ASEAN bloc of Southeast Asian nations and China on Tuesday signed an upgrade to their free trade agreement, which includes sections on digital, the green economy and other new industries, Beijing's Commerce Ministry said.
Heritage Foundation advisor Michael Pillsbury commented on President Trump's "brilliant" trade negotiations with China during an interview on "FOX News Sunday." SHANNON BREAM: How tricky is this moving forward?
China agreed to buy 12 million metric tons of American soybeans during this season and 25 million tons a year for the next three years, according to U.S. Treasury Secretary Scott Bessent. The agreement was part of a deal struck by President Trump with China’s Xi Jinping in South Korea.