China has pledged to buy 12 million metric tons of soybeans from U.S. farmers this season and at least 25 million metric tons a year in each of the next three years, Treasury Secretary Scott Bessent said Thursday.

Why it matters: China stopped buying U.S. soybeans earlier this year amid President Trump's trade war, depriving American farmers of their largest export market. • China bought $13 billion of soybeans from U.S. farmers last year. • The levels described by Bessent for the next three years would be roughly on par with what China imported annually in the recent past.

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