China and the United States have reached a broad agreement on widening agricultural trade through tariff cuts.
The nations also agreed to tackle non-tariff barriers and issues impeding trade like market access, Reuters reported. The Chinese Commerce Ministry said these are preliminary agreements reached and will be "finalized as soon as possible."
"Economic and trade teams from both countries will work to finalize the outcomes at an early date and jointly ensure implementation in line with the consensus reached by the two heads of state," state-run Xinhua news agency reported quoting the Chinese Commerce Ministry spokesperson.
China's farm imports from the US still face an additional 10% levy after the tit-for-tat tariffs announced in 2025, according to the Reuters report. Farm imports fell 65.7% year-on-year to $8.4 billion in 2025, according to the US Department of Agriculture data.
The commerce ministry said Beijing and Washington have reached a positive consensus on relevant tariff arrangements.
Industry experts expect a 10% cut in soybean tariffs. Such a move would allow private Chinese crushers to resume purchases. During last year's US harvest, when state crop traders were the only buyers, according to the Reuters report.
Bilateral trade will be promoted by setting up trade and investment councils,which will address concerns in trade and investment cooperation.
"Through the trade council, they will discuss issues such as tariff reductions on specific products and have agreed in principle to lower tariffs on products of mutual concern on an equivalent scale," a top Chinese official posted on X.
The US has agreed to actively address long-standing Chinese concerns, including automatic detention measures on Chinese dairy and aquatic products, exports of media-grown bonsai to the US, and recognition of avian influenza-free zones in east China's Shandong Province.
China will look into Washington's concerns on beef facility registration and hassles to poultry exports from certain US states.
On Friday, China granted five-year registration extensions to 425 US beef plants that had been shut after their registrations lapsed last year. Beijing also approved new five-year registrations for 77 additional U.S. facilities.
US Trade Representative Jamieson Greer said the Washington expects China to buy "double-digit billions" worth of US farm goods over the next three years, CNBC reported.
The broad agreement reached by the nations to promote trade — including in agricultural products — will include mutual tariff reductions on a wide range of products.
Beijing also said the sides reached arrangements on China's purchase of aircraft from the United States, as well as US guarantees for the supply of aircraft engines and related parts.
