中美会谈前中国加速替代美产品

Core Viewpoint - The high-level economic and trade talks between China and the United States commenced in Geneva, Switzerland, amid China's efforts to diversify its import sources away from the U.S. [1] Group 1: Trade Agreements - China signed a letter of intent with Argentine exporters to purchase soybeans, corn, and vegetable oil [1] - In April, China signed a soybean procurement contract with Brazil for at least 2.4 million tons, which is nearly one-third of China's average monthly import volume [1] Group 2: Trade Performance - Despite the impact of U.S. tariffs, China's overall export performance in April exceeded expectations [1] - In April, China's exports to the U.S. decreased by 21% year-on-year, while total exports grew by 8.1%, and exports to non-U.S. markets increased by 13% [1] - For the first four months of the year, the year-on-year increase in China's exports to non-U.S. markets was approximately 20 times the decrease in exports to the U.S. [1]