Summary
China plans to buy 12 million metric tons of soybeans from the U.S. this year and at least 25 million metric tons per year for the next three years. This decision comes after China stopped purchasing U.S. soybeans earlier due to trade tensions with the U.S.
Key Facts
- China will buy 12 million metric tons of soybeans from the U.S. this year.
- For the next three years, China promises to purchase at least 25 million metric tons annually.
- U.S. Treasury Secretary Scott Bessent announced these plans.
- Earlier this year, China had stopped buying U.S. soybeans due to a trade war.
- The planned purchases will match the annual amounts China used to buy in the past.
- Last year, China bought $13 billion worth of U.S. soybeans.
