US-China Trade Truce Hits Snags Over Soybeans, Boeing, and Rare Earths

The US-China trade truce is experiencing uneven progress on key commitments ahead of President Donald Trump's meeting with Chinese President Xi Jinping.

One area where China has made significant strides is in soybean purchases. According to Reuters, Chinese buyers purchased nearly half of a pledged 25 million tons in September alone, with about one million tons bought in a single week.

However, analysts caution that these purchases may also reflect China's domestic demand rather than broader trade cooperation.

The situation is less clear regarding the Boeing commitment. U.S. Trade Representative Jamieson Greer said around 140 aircraft were progressing, while Boeing expects Chinese airlines to announce orders separately.

Rare earth shipments have resumed, but uncertainty remains. Financial Times data showed that US-bound rare earth magnet shipments fell 20% in August from July, and some American buyers still face lengthy licensing delays.