China Grain Reserves (Sinograin) · Full chronicle and history

On September 28, after Xi Jinping's visit to the US, the Ministry of Commerce released a 38-page list of products subject to reciprocal tariff reductions, covering corn, wheat, sorghum, meat, and seed soybeans, among others. However, non-seed US soybeans, a major trade item, were not included and still face an additional 10% tariff. The tariff reduction arrangements will be implemented after completing domestic legal procedures.

According to Reuters, as the list of reciprocal tariff reductions between China and the US is announced, state-owned buyers such as Sinograin and COFCO have already purchased over 12 million tons of US soybeans, while private crushing enterprises are struggling to bear the tax burden due to an additional 10% tariff.

The White House announced in November 2025 that China committed to purchasing at least 25 million tonnes of US soybeans each year from 2026 to 2028; this procurement target is not a new pledge made during the September 2026 visit to the US, nor does it amount to the removal of the related tariffs.