Donald Trump and Chinese President Xi Jinping began talks in Beijing on May 14, 2026, focusing in part on agricultural trade between the two countries [1]. Following the summit, US Trade Representative Jamieson Greer said the US expects China to buy "double-digit billion purchases of ags over the next three years per year" [2].
The existing deal commits China to buying 25 million metric tonnes of soybeans annually, valued at over US$10 billion per year [2]. China has been meeting its soybean purchase obligations, but most of the additional purchases under the new understanding are expected later this year [2]. Trump told reporters China "will buy a lot of our farm products" after the talks [2].
Traders are watching closely for any reduction in soybean tariffs, which could allow private Chinese crushers to resume buying US soybeans on their own, increasing the volume further [2].
The US expects the total purchases to include soybeans as well as other agricultural products, covering the next three years [2]. According to Greer, "see an agreement for double-digit billion purchases of ags over the next three years per year coming out of this visit" [2]. The Trump-Xi talks and follow-up announcements mark a significant step in US-China farm trade relations.
The next major monitoring point will be later in 2026 when most of the expected increased purchases are scheduled to occur. Traders and officials will be watching demand and tariff developments closely in the coming months [2].
