Latest News Updates From Hallie Gu

The buying splurge is being spearheaded by China’s state-owned agricultural traders, with the private sector largely sitting on the sidelines because the trade isn’t commercially viable.

The two have agreed in principle to include agricultural products in a reciprocal tariff reduction framework following talks, China’s Ministry of Commerce said.

China is expected to step up U.S. soybean purchases to meet a pledge to buy at least 12 million tons by the end of the year, underscoring a wider market hope that a fragile trade truce can hold.

The response from Beijing will likely include tariffs and non-tariff measures, a Communist Party-backed news outlet reported on March 3, citing a person it didn’t identify.