US and China strike $60 billion tariff-cutting deal, but soybeans left out

The United States and China agreed to lower tariffs on a low-sensitivity trade regime spanning about $60 billion in goods, according to the Financial Times, covering products ranging from foie gras to camels. China separately confirmed it will cut tariffs on a range of US agricultural goods as part of the broader easing. But soybeans, the single largest US agricultural export to China and a frequent flashpoint in the two countries' trade disputes, were explicitly excluded from the tariff cuts. That omission means American soybean farmers, who have borne the brunt of retaliatory tariffs in past trade fights, get no relief under this agreement even as other sectors benefit. What's unresolved is whether soybeans will be addressed in a follow-up round of talks, and how large US farm groups will respond to being left out of an otherwise broad tariff-reduction deal.