U.S. and China Extend Trade Truce

Chinese President Xi Jinping met with President Donald Trump in Washington after U.S. and Chinese officials agreed to extend their trade truce through Jan. 10.

According to The Associated Press, the extension maintains a pause on new tariffs and trade restrictions while giving both leaders more time to negotiate at upcoming international meetings. Treasury Secretary Scott Bessent said some Chinese commitments remain unmet, although China has been a strong buyer of U.S. soybeans in 2026, while lagging in other agricultural purchases.U.S. farmers and commodity groups are urging both countries to reach a more stable, enforceable agreement that improves market access and reduces tariffs on American farm products.

Leaders from the Iowa Corn Growers Association, U.S. Soybean Export Council, and American Soybean Association say farmers need greater certainty and predictability in trade with China, as reported by Agri-Pulse. However, analysts told Reuters that a major new agricultural deal appears unlikely.