U.S. President Donald Trump left South Korea after the conclusion of his bilateral summit with his Chinese counterpart, Xi Jinping, earlier today. Trump reportedly said the meeting was “amazing” and that the two “agreed on almost everything.” In his opening statement, Xi said it is normal for the world’s two leading economies to have occasional frictions but that they should “stay the course and ensure the steady sailing forward of the great ship of China-U.S. relations.” After the meeting, Trump reportedly said he would lower tariffs on Chinese goods and that their dispute over rare earth minerals had been settled. (AL JAZEERA)
China’s state-owned agricultural commodities trader COFCO ordered three cargoes of U.S. soybeans, its first purchases from this year’s U.S. harvest. China used to buy about half of the harvest, but shifted almost all its import sourcing to South America amid the Trump administration’s tariff pressure. The decision has negatively affected U.S. farmers, one of U.S. President Donald Trump’s key support bases. Traders reportedly don’t expect a full rebound of purchases to their pre-2025 levels. (REUTERS)
