U.S. Treasury Secretary Scott Bessent said on Sunday that China will conduct “large-scale” purchases of U.S. soybeans, indicating a thaw in relations between the two countries before a possible leaders’ meeting.
Bessent made the remarks in an interview with CBS’s “Face the Nation.” He had held two days of talks in Kuala Lumpur, Malaysia, with Chinese Vice Premier He Lifeng and other officials. According to a statement from China’s Ministry of Commerce, the two sides reached a preliminary consensus on a number of bilateral issues, including agriculture.
If Beijing confirms this commitment, the increased purchases of U.S. agricultural products would be a major boost for American farmers. During the U.S.-China trade dispute, the Chinese government has consistently used soybean imports as a key bargaining chip, which has helped strengthen its leverage in the latest round of negotiations.
U.S. President Donald Trump had previously stated that he would urge Beijing to resume purchases of U.S. soybeans in his meeting with Chinese President Xi Jinping. Nevertheless, China’s renewed purchases may not provide much immediate support for U.S. growers, as Chinese crushers have already secured ample soybean supplies to meet some of this year’s and next year’s demand, thus narrowing the sales window for new U.S. soybeans.
In the long run, Beijing is expected to continue to adhere to its diversification strategy—deepening ties with friendly suppliers like Brazil while expanding domestic production. Recent trade tensions have shown that China can almost entirely bypass U.S. soybeans if necessary, and it may ensure that it never again becomes dependent on its main geopolitical rival for a crop vital to its food security and economic stability.
