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The US Trade Representative said the Biden administration will continue enforcing China's commitments under the Phase One agreement, including agricultural purchases. US tariffs on Chinese imports will stay in place for now.
The analysis examines the policy continuity.
Enforcing the purchase commitments supports expected US farm export demand, particularly soybeans and corn. Keeping tariffs in place leaves room for trade friction that could disrupt flows.
piie.comOct 4, 2021After 696 past bullish trade events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% over 20.
After 729 past bullish trade events, Corn moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), and +0.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
