COMMODITIES
What the US-China trade deal means for Brazilian soy
US President Donald Trump and Chinese President Xi Jinping during their Oct. 30 meeting in Busan, South Korea. Photo: Daniel Torok/White House
The United States and China announced a long-awaited trade truce late last week after a meeting between Presidents Donald Trump and Xi Jinping. The US agreed to reduce tariffs in exchange for China maintaining exports of rare earths and resuming purchases of soybeans from American farmers. According to Chinese authorities, the deal will last one year.
US farmers met the truce with relief, after months of China boycotting their soybeans, including at the start of the American marketing year in September. Amid tense trade talks between Washington and Beijing, Chinese buyers turned to soybeans from Brazil and Argentina to meet their demand…
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