--- title: "US and China agree reciprocal tariff cuts on $60 billion in goods, but soybeans left out" summary: "The United States and China have agreed to pursue reciprocal tariff reductions covering $60 billion worth of goods, including US corn, wheat and meat as well as Chinese consumer products, following a presidential summit in Washington. Non-seed soybeans — the largest US agricultural export to China — were excluded from China's list, prompting criticism from the American Soybean Association and a sharp drop in Chicago soybean futures. The two sides also extended their trade truce through to 10 January and agreed on an agriculture working group." url: "https://feedsoft.ai/articles/us-and-china-agree-reciprocal-tariff-cuts-on-60-billion-in-goods-but-soybeans-left-out-3977da85" publisher: "The Feed Report" section: "Commodity Markets" author: "The Feed Desk" datePublished: "2026-10-04T03:35:09.328Z" dateModified: "2026-10-04T03:35:09.328Z" sources: - title: "US, China agree to reciprocal tariff cuts on select goods" url: "https://www.thepoultrysite.com/news/2026/09/us-china-agree-to-reciprocal-tariff-cuts-on-select-goods" --- # US and China agree reciprocal tariff cuts on $60 billion in goods, but soybeans left out *The United States and China have agreed to pursue reciprocal tariff reductions covering $60 billion worth of goods, including US corn, wheat and meat as well as Chinese consumer products, following a presidential summit in Washington. Non-seed soybeans — the largest US agricultural export to China — were excluded from China's list, prompting criticism from the American Soybean Association and a sharp drop in Chicago soybean futures. The two sides also extended their trade truce through to 10 January and agreed on an agriculture working group.* China and the United States have agreed to pursue tariff cuts on $60 billion worth of goods imported from each other, including US corn, wheat, sorghum, meat, dairy, vegetable oils and meals, as well as Chinese toys, small appliances and household goods, according to a report by Reuters cited by The Poultry Site. The announcement followed the second summit of the year between President Xi Jinping and US President Donald Trump, held in Washington last week. Under the US-China Board of Trade, both countries have each recommended $30 billion of trade in non-sensitive goods for more favourable tariff treatment, US Trade Representative Jamieson Greer said in a statement. For the United States, that represented what Greer described as "unlocking improved market access" for about 30% of US exports to China. The $30 billion valuations were based on 2024 import data, according to the USTR. Statements from neither side indicated the extent of tariff reductions or any timing for implementation, leaving markets with limited concrete detail. ## Soybeans excluded, industry reacts China's proposed list notably excluded non-seed soybeans, the biggest US agricultural export to China, which totalled $16.2 billion in 2025. The American Soybean Association expressed disappointment, saying Beijing's existing 10% retaliatory tariff would keep Chinese purchases of US soybeans controlled by state-directed enterprises. "Removing the tariff would improve the competitiveness of US soybeans and provide greater opportunity for private Chinese buyers," the trade group said. Chicago Board of Trade soybean futures fell sharply on Monday, reflecting traders' disappointment at the announcement and the unwinding of a buildup of net long positions. Despite the soybean exclusion, China's list included reduced levies on US fish and seafood, logs and wood products, cosmetics and medical devices. The White House's proposed reciprocal cuts for Chinese goods centred on consumer products, with the broad category for toys — including children's bicycles — topping the US list at $14.4 billion in 2024, falling to $9.8 billion in 2025 amid higher US tariffs, according to US Census Bureau data. ## Trade truce extended and agriculture working group established China's commerce ministry said a two-month extension of a trade truce through to 10 January would provide room for both sides to evaluate their ongoing arrangement, offering a "relatively stable and predictable policy environment" for cooperation among companies. Both sides will hold regular talks on potential investment opportunities, policy transparency, and enterprise concerns, the ministry said. An agriculture working group will be established under a trade council and hold its first meeting before the end of the year to discuss two-way market access and regulation, the commerce ministry added. China's selected products for tariff cuts are seen as designed to help Beijing meet a White House-stated $17-billion commitment to buy agricultural goods. China has already resumed large-scale buying of US soybeans under a deal struck last year to buy 25 million metric tons annually. ## Coal, AI and financial services The presidential summit also produced an agreement for China to import 10 million metric tons of US coal annually in 2027 and 2028, an amount the White House said roughly equals 2% of China's coal imports each year. Liquefied natural gas and oil were not on the list. "Importing US coal is not only a beneficial supplement to China's domestic coal market, but also brings stable economic income and employment to the US coal industry," the Chinese commerce ministry said. On artificial intelligence, both sides agreed on a communication channel for incidents and a follow-up dialogue by the end of November. China will also examine and approve foreign financial services institutions, including those with US capital, to conduct business and open branches in China, and the two countries said they would continue discussions on increasing direct flights. Stocks fell sharply in China on Monday, with investors citing few concrete details from the summit. Major US stock indexes also declined as investor focus shifted to the stalemate in US-Iran talks, which pushed oil prices higher. ## Sources - [US, China agree to reciprocal tariff cuts on select goods](https://www.thepoultrysite.com/news/2026/09/us-china-agree-to-reciprocal-tariff-cuts-on-select-goods) *Cite as: The Feed Report, "US and China agree reciprocal tariff cuts on $60 billion in goods, but soybeans left out", https://feedsoft.ai/articles/us-and-china-agree-reciprocal-tariff-cuts-on-60-billion-in-goods-but-soybeans-left-out-3977da85 (as of 2026-10-04).*