China announces tariff cuts on a wide range of U.S. agricultural products, but excludes U.S. soybeans from the reduction. The announcement comes via a tariff-reduction list issued by China’s commerce ministry.
The list covers items such as corn, wheat, and various agricultural goods, including meat and dairy, along with other products referenced by outlets such as sorghum and certain vegetable oils and meals. Multiple reports frame the move as market-moving news following the Washington summit between Chinese President Xi Jinping and U.S. President Donald Trump last week.
Outlets also converge on the central exception: U.S. soybeans remain subject to an additional 10% tariff. Traders cited in reporting say this level would be difficult for private soybean crushers to absorb, while noting that Chinese state buyers have increased purchases. Korea Times adds that both sides plan to establish a trade council, with an initial focus on discussing reciprocal tariff reductions covering $30 billion in products.
