What China’s purchase of US farms means for trade

Irrigated China soybean field.
China farm deal shifts trade. (Source: Reuters)
China has committed to buying at least $17 billion of US agricultural products annually in addition to soybeans for three years, the White House said on Sunday, after a summit of the two countries’ leaders in Beijing last week. The world’s largest importer of agricultural goods, China sharply reduced US purchases after last year’s trade war between the world’s two biggest economies. But both have agreed to expand agricultural trade and tackle non-tariff barriers for beef and poultry, Chi

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