China, U.S. Agree Farm Tariff Cuts on $30 Billion Goods After Trump-Xi Meeting
Updated
Updated · Reuters · May 20
China, U.S. Agree Farm Tariff Cuts on $30 Billion Goods After Trump-Xi Meeting
10 articles · Updated · Reuters · May 20
China’s Commerce Ministry said Beijing and Washington agreed in principle to include agricultural products in a reciprocal tariff-cut framework, marking the clearest official Chinese acknowledgment yet of farm-trade concessions.
The statement tied the move to a broader mechanism covering $30 billion of goods whose tariffs would be reduced to historic levels or lower, though it gave no product list, timing or implementation details.
The White House had said after last week’s Trump-Xi meeting that China would buy $17 billion of U.S. agriculture annually on top of an existing soybean commitment, a target analysts say likely requires cutting trade-war tariffs.
Beijing also said it had re-certified U.S. beef company registrations, would resume poultry imports from some bird-flu-hit states, and would discuss U.S. concerns over agricultural biotechnology.
Will this farm deal truly ease the broader U.S.-China tech and resource rivalry?
Beyond soybeans, will this deal unlock China's market for U.S. gene-edited crops?
Is China's $17 billion promise a firm commitment or just diplomatic maneuvering?
May 2026 U.S.-China Summit: Agricultural Gains, $50 Billion Trade Shortfall, and the Limits of a Fragile Truce
Overview
The May 2026 summit in Beijing between U.S. President Donald Trump and Chinese President Xi Jinping resulted in immediate agreements focused on agricultural trade, such as China re-certifying U.S. beef company registrations and resuming poultry exports from certain states. These steps are expected to boost U.S. agricultural exports to China and open discussions on agricultural biotechnology issues. While the summit did not produce specific figures for broader trade deals, it laid important groundwork for future engagement and ongoing economic dialogue, reflecting both progress and the complexity of the U.S.-China economic relationship.