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China makes first big U.S. soybean purchase since Trump-Xi truce

Dec 13 , 2018

CHICAGO (Reuters) - China on Wednesday made its first major purchases of U.S. soybeans since President Donald Trump and his Chinese counterpart Xi Jinping struck a trade war truce earlier this month, providing some relief to U.S. farmers who have struggled to find buyers for their record-large harvest.

Trump told Reuters in an interview on Tuesday the Chinese were already buying a “tremendous amount” of U.S. soybeans and would also soon cut tariffs on U.S. autos.

The purchase of over 1.5 million tonnes of beans is the most concrete evidence yet that China is making good on pledges the U.S. government said Xi made when the two leaders met on Dec. 1 and agreed to a 90-day detente to negotiate a trade deal.

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