China to cut tariffs on U.S. farm goods, but soybeans excluded

China is set to cut tariffs on a broad range of ​U.S. agricultural goods, from corn and wheat to ‌meat and dairy, but top import ​item soybeans were excluded from a ⁠tariff-reduction list its Commerce Ministry issued on Monday (September 28, 2026).

Markets have been waiting for news on Chinese tariff cuts ‌on U.S. farm goods following last week's Washington summit of leaders Xi Jinping ‌and Donald Trump.

The list covers sorghum, ‌vegetable ⁠oils, and meals, including soyoil and soymeal, ⁠along with meat, dairy products, and other items, the Commerce Ministry said.

U.S. soybeans, however, still face an ​additional tariff of 10%, ‌which traders have warned is too high for private crushers to absorb, even as Chinese state buyers have stepped up purchases.