President Donald Trump is hosting Chinese President Xi Jinping as the November 10 deadline for the 2024‑25 trade truce approaches. The Trump administration is urging China to honor its May commitment to purchase at least $17 billion of U.S. agricultural products each year through 2028, a pledge that directly supports American farmers and helps keep food prices low for families.
Current purchase levels fall short of target
U.S. Department of Agriculture data show that through July, China bought $3.9 billion in U.S. farm goods outside soybeans, putting the annual pace at roughly $6.7 billion—well below the prorated share of the $17 billion goal. Including soybeans, total purchases reached $8.8 billion, a 50 % increase from $5.9 billion in the same period last year, but still far from the target.
Administration’s response and next steps
“We are committed to maintaining the truce and working with China to ensure they meet their obligations,” Treasury Secretary Scott Bessent told CNBC. He noted that some deliverables from the previous fall’s agreement have not yet been fully fulfilled, but affirmed the administration’s intention to keep the truce in place.
U.S. Trade Representative Jamieson Greer was more cautious, saying an extension is unlikely this week and should be granted “incrementally to make sure that there’s compliance.” Greer cited China’s recent limits on rare‑earth exports as a source of uncertainty.
Expert commentary on leverage and tariffs
Phillip W. Magness, a senior fellow at the Independent Institute, warned that “the last several months have diminished the credibility of U.S. threats,” and cautioned that broader tariff escalations could hurt American agriculture.
Conversely, Scott Paul, president of the Alliance for American Manufacturing, praised President Trump’s willingness to use tariffs to “re‑calibrate trade flows and de‑risk supply chains,” calling it a welcome change for American industrial workers.
Potential tariff adjustments
The administration is also exploring a proposed “30‑by‑30” deal that would lower tariffs on a set of non‑critical goods to most‑favored‑nation levels. Bessent said the idea was floated during Trump’s May visit to Beijing and that negotiations are ongoing.
Should the U.S. decide to impose additional tariffs, the administration notes that the burden would fall primarily on foreign exporters, not American consumers, a point Greer reiterated in a Senate Finance Committee hearing.
Impact on American families
Nonpartisan estimates from the Tax Foundation and Yale Budget Lab suggest that combined U.S. tariffs cost the average household between $820 and $1,100 annually. The administration disputes the claim that consumers bear the full cost, emphasizing that foreign exporters absorb a significant share of any tariff increase.
Overall, the Trump administration’s focus remains on securing Chinese purchases of U.S. farm products, protecting American farmers, and ensuring that any tariff adjustments do not unduly raise prices for families at the checkout line.
Original reporting: KTBS 3 (Shreveport) — read the source article.
