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China’s November soybean imports rise after US trade deal

China’s November soybean imports rise after US trade deal
RRN photo

China’s imports of soybeans surged in November following the announcement of an interim trade deal with the United States. Customs data showed imports rose 53.7% over a year earlier.

News reports said imports of U.S. soybeans more than doubled compared with the previous month.

China cut off purchases of U.S. soybeans after President Donald Trump raised import duties on Chinese goods in a dispute over Beijing’s technology ambitions and trade surplus.

The two governments announced an interim agreement in October but have yet to release details. U.S. officials said Beijing agreed to buy more American farm exports but Chinese officials have yet to confirm the possible scale of purchases.

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