US claims that China will purchase $40bn of American agricultural goods were greeted with scepticism over the feasibility of a deal that would surpass all previous shipments by at least $10bn.
US officials said Beijing had committed to the imports as part of a preliminary trade agreement reached Friday that followed months of negotiations and escalating tariffs between the two trading partners.
If realised, the pledge could prop up rural economies suffering from a glut of grain. The agreement “provides relief after more than a year of market uncertainty,” said Jim Sutter, chief executive of the US Soybean Export Council.
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