US President Donald Trump is expected to visit Beijing on June 14-15. US Trade Representative Jamieson Greer stated clearly at a congressional hearing on June 22 that he hopes the two sides will reach an agreement on a wider range of agricultural purchases beyond soybeans during Trump’s visit.
Greer emphasized that Washington’s goal is to obtain a commitment from China to purchase “all agricultural products,” which will be a major topic of discussion at the Trump-Xi meeting, and Washington hopes this will be a significant achievement of Trump’s visit.
According to multiple foreign media reports, during his testimony before the House Ways and Means Committee on government trade priorities, Greer stated that the U.S. is working with Beijing to establish a specific mechanism aimed at promoting trade in non-sensitive goods such as agricultural products. The US hopes China will make comprehensive purchases of agricultural products, which is seen as part of a new round of “big deal” between the two countries.
Greer revealed that the US hopes Beijing will make a broader commitment to overall agricultural procurement, rather than just focusing on soybeans as a past indicator. Data shows that China’s soybean purchases from the US have seen a temporary rebound over the past year. However, despite this rebound, China’s soybean imports still primarily come from Brazil and Argentina, with the proportion from the US remaining low. Market analysis indicates that this shows China’s purchasing decisions, in addition to market factors, clearly reflect policy and negotiating leverage.