MADRID, SPAIN (RFD-TV) — U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative officials are meeting this week with Chinese Vice Premier He Lifeng in Madrid — with tariffs, export controls, and TikTok on the agenda.
China has sharply reduced purchases of American crops, and reports from the U.S. Department of Agriculture (USDA) show no new soybean bookings from China for 2025/26. This follows Beijing’s recent approval of Brazilian sorghum imports and suspension of U.S. shipments, citing quality issues.
The Treasury signaled over the weekend that the current tariff truce will hold until at least November 10, which could give farmers a brief window of stability. However, China has pulled back on U.S. crops, turning to Brazil and Argentina instead for soybeans and sorghum.
For U.S. agriculture, the stakes are high. Farm groups are pressing negotiators to secure firm commitments for Chinese buying, warning that without access to this top market, U.S. producers face lower prices and growing competition.
Rich Nelson, a commodity broker for Allendale Inc., joins us to break down what the U.S.-China trade agreement means for the ag economy.
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Expect incremental near-term lift for feed grains, proteins, and ethanol as tariff cuts and smoother approvals translate into real orders.
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If confirmed, early Chinese buys tighten nearby Gulf/PNW capacity and could bump basis in export-oriented regions.
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Trade pacts with Malaysia and Cambodia unlock tariff-free and preferential lanes for key U.S. farm goods, expanding long-term demand in Southeast Asia.
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Shaun Haney, Host of RealAg Radio, discusses President Trump’s move to halt trade talks with Canada and Mexico over a commercial about tariffs launched by the Government of Ontario.
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