• Top trade officials from China and the U.S. held talks to manage uncertainties and expand cooperation, reinforcing a recent de-escalation.
  • The meeting follows major bilateral agreements, including sweeping tariff reductions and the lifting of Chinese export controls on critical minerals.
  • U.S. agricultural exports are set for a significant boost, with China committing to purchase at least 12 million metric tons of soybeans by year-end.

China’s Commerce Minister Wang Wentao met with U.S. Ambassador to China Nicholas Burns in a high-level engagement aimed at reinforcing the fragile truce in the long-running trade war between the two economic giants. According to a readout from the Chinese side, both officials conducted an in-depth exchange of views on trade ties, with Minister Wang stressing that the two sides should "manage the uncertainties" in the relationship and expand areas of cooperation.

The diplomatic push comes just weeks after the two nations unveiled a series of agreements in early November, marking the most significant de-escalation of trade tensions in years. The breakthrough was catalyzed by a summit between the two countries' leaders in late October, which sought to halt a cycle of tit-for-tat tariff hikes and export restrictions that had intensified throughout 2025.

Under the new terms, China has agreed to suspend and remove tariffs imposed earlier this year on a wide range of U.S. agricultural and industrial goods, including chicken, wheat, corn, and soybeans. In a major concession for global supply chains, Beijing will also suspend its stringent global export controls on critical minerals such as rare earths, gallium, and graphite, effectively rolling back restrictions first introduced in 2023. For its part, the U.S. is lowering tariffs related to fentanyl precursor chemicals by 10 percentage points and extending the suspension of certain reciprocal tariff increases until November 2026.

The agreements provide a substantial and immediate boost to U.S. farmers. China has committed to purchasing at least 12 million metric tons of U.S. soybeans by the end of 2025, with annual purchases of 25 million metric tons locked in from 2026 through 2028. The deal also resumes imports of U.S. sorghum and hardwood logs, sectors that had been largely frozen out of the Chinese market.

Despite the positive momentum, officials on both sides recognize the inherent fragility of the détente. The Chinese readout from the minister's meeting specifically highlighted the need to "manage the uncertainties," a nod to the implementation risks that have plagued previous trade truces. A person familiar with the negotiations noted that while the agricultural purchase commitments are a cornerstone of the deal, some of the volume figures have not been fully confirmed by the U.S. side, reflecting ongoing verification gaps.

Efforts to reach the U.S. Embassy in Beijing for additional comment on the ambassador's meeting were not immediately successful.

The easing of China's export controls on critical minerals is a significant development for manufacturers in the electronics, automotive, and clean energy sectors, who had been grappling with supply risks and volatile pricing. By issuing general export licenses to U.S. users, China is effectively removing a key leverage point that had threatened to disrupt global production lines.

Correction: An earlier version of this article misstated the annual soybean purchase commitment for 2026-2028. The correct figure is 25 million metric tons.