Bloomberg has learned of China's intention to "substantially purchase" soybeans from the United States

U.S. Treasury Secretary Scott Bessant said after talks with his Chinese counterparts that Beijing intends to make "substantial purchases" of American soybeans. This was reported by Bloomberg on October 26.

Bessent made the statement after two days of meetings with Vice Premier of the State Council of the People's Republic of China He Lifeng and other Chinese officials in Malaysia.

"If Beijing confirms its promise to increase purchases from the United States, it will be a major relief for American farmers who are experiencing financial difficulties after China, their main buyer, refused to supply this season," the material says.

According to the agency, China has used soybean imports as an "important bargaining chip" throughout the trade dispute with the United States. This helped strengthen his position in the last round of negotiations.

According to the author of the article, the resumption of soybean purchases from China may not provide "significant immediate support to American producers," since Chinese processors have already secured sufficient stocks of soybeans.

Beijing is also expected to deepen ties with "friendly suppliers" such as Brazil, while expanding domestic production.

"Recent trade tensions have shown that China can almost completely abandon American soybeans if necessary," writes Bloomberg.

Round Two: Why the US-China Trade War has resumed

Beijing's export controls on rare earth metals have provoked a strong reaction in Washington.

Earlier, on August 25, it was reported that Russia and China had dealt a blow to the U.S. economy by reducing purchases of soybeans from the United States. It was noted that Beijing has significantly limited the purchase of American soybeans, despite the fact that the country was previously one of the main buyers of these products. At the same time, the Russian side increased soybean production in the Far East, bypassing trade sanctions, and also doubled the volume of exports of this product to the countries. It was clarified that such changes in trade have a positive impact on cooperation between Russia and China.

White House Press Secretary Caroline Leavitt said during a press conference with reporters on October 23 that US President Donald Trump would meet with Chinese President Xi Jinping on October 30. It was clarified that the meeting of the American leader with Xi Jinping would be the "final chord" of his "Asian tour," which included visits to Malaysia, Japan and South Korea.

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