China has committed to purchase $36.3 billion worth of US agricultural products, including soybeans, in 2020 and $43.3 billion in 2021, under the Phase 1 trade deal signed Wednesday, according to a joint statement released by the two governments. US President Donald Trump and Chinese Vice Premier Liu He signed the trade deal that seeks to boost China’s import of American goods and services and end the 18-month long dispute between the two nations. Until 2017, before the US-China trade dispute started, China was buying $25 billion worth of US agricultural products on average every year. Despite a recent spike in US pork exports to China, soybeans are by far the most significant component in agricultural trade ties between the two nations, trade sources said. On average, soybeans comprise over 50% of US exports […]