“Following US-China trade negotiations, China has committed to resume imports of US soya beans. The country has agreed to purchase 12m tonnes during the rest of 2025 and 25m tonnes per year
“Following US-China trade negotiations, China has committed to resume imports of US soya beans. The country has agreed to purchase 12m tonnes during the rest of 2025 and 25m tonnes per year during the next three years, similar to 2024 volumes. If these commitments are met, US soya bean shipments are expected to surge in the short term before stabilizing in the medium term,” says Filipe Gouveia, Shipping Analysis Manager at BIMCO.
The agreement is expected to be positive for the dry bulk market and the US and Chinese economies. Besides the import targets for soya beans, China agreed to lower tariffs for US grains and meat and to resume US sorghum imports. On the other hand, the US agreed to lower tariffs on Chinese goods by 10 percentage points. Both countries also agreed to suspend port fees on each other's ships for one year.
The trade agreement provides relief for US soya bean shipments which have fallen 27% y/y so far this year. Although the US managed to boost shipments to destinations other than China, it has not been enough to mitigate a 65% y/y drop in shipments to China. Chinese imports, however, have still increased 5% y/y during
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