Following a summit between US President Donald Trump and Chinese President Xi Jinping in Beijing, China's commerce ministry announced agreements to expand agricultural trade through tariff reductions and address non-tariff barriers and market access issues. These preliminary agreements aim to promote two-way trade in agricultural products, with both sides working to resolve concerns and make substantive progress. China has already taken steps to address US concerns, including granting registration extensions to US beef plants and approving new facilities for poultry exports from certain states. Market watchers anticipate a 10% cut in soybean tariffs, which would allow commercial buyers to re-enter the market. The US expects China to purchase "double-digit billions" of US farm goods over the next three years.