China plans to reduce tariffs on a broad range of U.S. agricultural products, but soybeans were excluded from the Commerce Ministry’s list. The measure covers corn, wheat, sorghum, vegetable oils and meals, including soyoil and soymeal, as well as meat and dairy products. U.S. soybeans will continue to face an additional 10% tariff, despite purchases by Chinese state buyers. Sinograin and COFCO have bought more than 12 million metric tons, nearly half of the 25 million tons the White House says China committed to buy annually through 2028. The two sides also agreed to establish a trade council to discuss reciprocal tariff reductions on $30 billion of products. China has not confirmed the purchase target, while trade covered by Monday’s list totaled about $17 billion in 2024, according to Reuters calculations.