WASHINGTON, DC – A new U.S.-China trade framework could improve market access for several major farm products, but it does not guarantee sales and leaves whole soybeans outside the latest tariff-reduction list.
American Farm Bureau Federation Deputy Chief Economist Faith Parum says China’s list includes beef, pork, poultry, dairy, corn, wheat, rice, sorghum and specialty crops. The framework covers roughly $30 billion in trade value, but that figure is not a purchase commitment.
Farm Bureau says about 90% of covered products are expected to return to China’s most-favored-nation tariff rates. That could remove retaliatory duties, although U.S. products may still face higher tariffs than competitors with free trade agreements.
Whole soybeans are excluded, even though China has historically been a major buyer. The agreement also creates an agricultural working group to address non-tariff barriers such as biotechnology approvals, facility registrations and product eligibility rules.
The final impact will depend on tariff cuts, implementation timing, regulatory progress and actual Chinese buying as U.S. exporters compete with Brazil, Australia and other suppliers.
Farm-Level Takeaway: Lower tariffs could improve competitiveness for several U.S. farm products, but actual sales will depend on implementation and Chinese demand.