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Treasury Secretary Scott Bessent’s comments come after Trump and Xi spoke on Nov. 24, their first conversation since the two leaders met in Busan, South Korea, in October.

An ongoing row between Japan and China centered around Taiwan threatens to inject fresh tensions into the Trump-Xi relationship and complicate ties.

President Trump is hearing from “lots of different advisers” in deciding on the exports, Commerce Secretary Howard Lutnick said, noting that Trump understands China's Xi Jinping “the best.”

The warming of ties between the U.S. and China have boosted crop prices, with soybeans hovering near the highest levels since June 2024.

The Trump administration intends to release its long-awaited plan to offer relief for beleaguered farmers early next month, U.S. Agriculture Secretary Brooke Rollins said Nov. 19.

Electric trucks now outsell LNG models in China, so its demand for fossil fuels could fall, and "in other countries, it might never take off,” according to an analyst.

The U.S. Department of Agriculture on Nov. 18 announced the sale of 792,000 tons of soybeans to China for the 2025-2026 marketing year, the biggest daily purchase in two years.

“It will definitely be positive for the cost of logistics,” said Mohammed Akoojee. “Up until now, the trade war has increased the cost of logistics in terms of freight rates and duties.”

Soybean futures jumped on signals that China is stepping up buying of the oilseed, offering hope for U.S. farmers after purchases appeared to have stalled.

After a flurry of orders late last month — which were the first of this season — Chinese imports of U.S. cargoes seem to have faltered, according to traders who asked not to be identified.