Commodities & Energy

Reuters Exclusive: China makes first major buy of U.S. soybeans since Trump-Xi meet

Reuters Exclusive: China makes first major buy of U.S. soybeans since Trump-Xi meet

Reuters exclusively reported on Wednesday that China had bought over half a million tonnes of soybeans in its first major purchase of U.S. agricultural produce since U.S. President Donald Trump and his Chinese counterpart Xi Jinping struck a trade war truce earlier this month. The purchases are the most concrete evidence yet of the Chinese buying of farm, energy and industrial products that the U.S. government had said would quickly follow Trump’s meeting with Xi at the Group of 20 industrialized nations in Argentina on Dec. 1. Trade in global markets has been volatile since the meeting because there was little evidence until Wednesday of the expected Chinese buying, prompting skepticism among investors about how much progress Trump and Xi had made in resolving a trade war that has disrupted the flow of hundreds of billions of dollars of goods between the world’s two largest economies.


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