China should make “substantial” purchases of North American soybeans, US Treasury Secretary Scott Bessent said this Sunday (26), after a series of meetings with Chinese officials — a sign that relations between the world’s two largest economies are beginning to warm up ahead of a possible meeting between the leaders of the two countries.
The statements were made in an interview with the CBS program Face the Nation, after two days of conversations with Vice Prime Minister He Lifeng and other representatives in Kuala Lumpur, Malaysia. According to the Chinese Ministry of Commerce, there was an initial consensus on several bilateral issues, including the agricultural sector.
Sign of tension in relationships
The movement indicates a joint effort to stabilize relations, which had been marked by months of tension and exchanges of harsh statements.
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If confirmed by Beijing, the commitment to expand U.S. soybean imports would bring relief to American producers, who are facing financial difficulties after China — their main buyer — withdrew this cycle.
The Chinese government has used grain purchases as a bargaining chip in trade disputes with Washington, reinforcing its position in the most recent negotiations.
Pressure from Trump to resume purchases
US President Donald Trump has stated several times that he intends to pressure the Chinese government to resume purchases of American soybeans during his meeting with President Xi Jinping, scheduled for the next few days.
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Despite expectations, analysts warn that the immediate impact may be limited. Chinese processors have already secured a sufficient volume of soybeans to cover demand until the end of this year and part of 2026, which reduces the window for new purchases.
Still, US Trade Representative Jamieson Greer said that “China has not yet covered all of its soybean needs for December and January, and it really needs American product.”
“We hope that Beijing will resume these purchases if it wants to reach a good agreement with the United States,” he added in an interview with Fox News.
Reaction from the American agricultural sector
The president of the American Soybean Producers Association (ASA), Caleb Ragland, stated that the sector received Bessent’s statements with optimism.
“Signs of commitment to new purchases are a positive step,” he said in a statement. “We thank the White House and negotiators for keeping soybeans at the center of trade discussions and hope that the meeting between Trump and Xi results in an agreement that benefits our producers.”
Impacts and long-term Chinese strategy
A possible increase in imports from the USA could put pressure on soybean meal prices in China, increasing the losses of processors who already operate with tight margins.
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In the long term, however, Beijing must maintain its diversification strategy, strengthening ties with suppliers such as Brazil and expanding domestic production.
Recent trade tensions have shown that China can, if necessary, drastically reduce dependence on American soybeans — and is likely to seek to ensure that it is never again vulnerable to its main geopolitical rival in a product vital to its food security and economic stability.
© 2025 Bloomberg L.P.
