China and the United States have reached an agreement on soybean purchases, under which China will buy 25 million tons of U.S. soybeans annually.

The U.S. Treasury Secretary, Bensons, said last night (Beijing Time October 30) that Trump has reached an agreement with China, under which China will purchase 25 million tons of U.S. soybeans annually, with 12 million tons to be delivered immediately.

[Cunning] Comments: China imports about 110 million tons of soybeans annually, and the U.S. accounted for about 20% in the past. These figures clearly indicate that the Chinese market has a stable purchasing scale and diverse import channels. As long as the U.S. adopts a correct attitude and shows sincerity, maintaining the previous share is not difficult. However, if the U.S. continues to act recklessly, China can easily find alternative sources from other countries. This meeting between China and the U.S. in Busan has only reached a preliminary consensus, and the Chinese side has not confirmed any specific details yet. Subsequent negotiations will continue based on the development of the situation. If the U.S. wants to protect the interests of its domestic soybean farmers, it should abandon its "hegemonic approach" and sincere cooperation is the right path.

Original: www.toutiao.com/article/1847448745610312/

Statement: This article represents the views of the author himself.