The U.S. and China reached a “framework deal” over the weekend, defusing Trump’s planned 100% tariffs on Chinese goods and setting the stage for a broader agreement at next week’s Trump–Xi summit.
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Treasury Secretary Scott Bessent said China agreed to make large soybean purchases and delay new rare-earth export restrictions for up to a year — a key win for U.S. supply stability. The U.S. will keep its own export controls but extend the current tariff truce.
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The deferral gives Washington and its allies time to expand domestic and partner supply chains for critical materials while easing near-term market stress.
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Soybeans and ag equities (e.g., ADM, BG, CF) could see near-term demand upside from renewed Chinese buying.
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All eyes now turn to the Trump–Xi meeting, where a formal rare-earth or trade announcement could determine whether this truce becomes a lasting reset or a temporary pause.