China signals tariff cuts, advances in farm market access after Trump-Xi summit
China and the United States said the deal is preliminary, with Beijing pledging tariff cuts and new steps to reopen farm markets.
- On Saturday, China and the United States agreed to expand agricultural trade through reciprocal tariff cuts and addressing non-tariff barriers, with China's commerce ministry calling the agreements "preliminary" and pledging finalization soon.
- These measures aim to reverse a sharp 2025 downturn where U.S. farm exports to China fell 65.7% to $8.4 billion amid tariffs, while a 10% levy persists on agricultural imports.
- Beijing granted five-year registration extensions to 425 U.S. beef plants on Friday and approved new five-year registrations for 77 additional facilities, restoring access for previously excluded exporters.
- Trade Representative Jamieson Greer said China is expected to buy "double-digit billions" worth of U.S. farm goods over the next three years, though neither side has disclosed specific products or volumes.
- "Tariff reductions on agricultural products would mark a normalization of China-U.S. farm trade," said Johnny Xiang, founder of Beijing-based AgRadar Consulting, allowing commercial buyers to re-enter the market.
21 Articles
21 Articles
China said it agreed with the United States to reduce tariffs on some products to promote bilateral trade, a sign that the relationship between the world's two largest economies continues to stabilize after the historic meeting between its leaders. China's Ministry of Trade issued an update on the bilateral trade talks on Saturday following a two-day summit in Beijing between US President Donald Trump and China's leader Xi Jinping.The dependence…
China signals tariff cuts, advances in farm market access after Trump-Xi summit
China and the United States have agreed to expand agricultural trade through tariff reductions and tackle non-tariff barriers and market access issues, China's commerce ministry said on Saturday after this week's summit in Beijing.
China signals tariff cuts and advances in US farm market access after Trump-Xi summit
The tariff cuts and market access improvements could stabilize US-China trade relations, impacting global supply chains and commodity markets. The post China signals tariff cuts and advances in US farm market access after Trump-Xi summit appeared first on Crypto Briefing.
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