Market access update: Here's what's in Trump’s trade pacts for agriculture so far

Before President Donald Trump took office, he promised to reverse what he saw as four years of inactivity on opening foreign agricultural markets by leveraging new tariffs to secure market access concessions.

Nine months into his second term, the administration has deployed tariffs on almost every U.S. trading partner. But how much additional agricultural market access has been negotiated so far?

As of October, the administration has announced arrangements with seven major trading partners, in which it says it has provided tariff reductions in exchange for trade concessions.

Discussions with other countries over potential additional deals remain ongoing – most critically with China. Beijing has significantly scaled back its purchases of multiple U.S. commodities over recent trade tensions and has completely frozen imports of American soybeans.

Treasury Secretary Scott Bessent told Fox on Monday that he remains “optimistic” for future de-escalation with China, for example. Trump and Chinese President Xi Jinping may meet at the sidelines of an Asian economic summit later this month.

Negotiations are also continuing with some of the countries with which Trump has already announced completed deals. For several of the pacts secured so far, final details are still being hashed out. For many of these, official documentation from either side is limited.

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Further, multiple finalized deals, including those with the United Kingdom and the European Union, include language that states both sides will continue to explore additional areas of cooperation on additional market access, suggesting the deals could eventually be expended.

Accordingly, much of U.S. trade policy remains unsettled. More market access concessions could still materialize as negotiations develop, just as concessions previously touted by senior U.S. officials could be rescinded if trade tensions reignite.

The below list, however, provides a snapshot of the provisions in agreements announced so far that would reduce trade barriers for U.S. agricultural products in foreign markets.

United Kingdom

Public documents: General terms, White House Fact Sheet, UK press release

Status: Implementing initial framework

• A tariff-rate quota for U.S. beef (13,000 mt)
• A tariff-rate quota for U.S. ethanol (1.4 billion liters)
• A commitment to work together to “improve market access” for ag products.
• A commitment to increase cooperation on export verification programs.

Japan

Public documents: Joint Statement, U.S. Executive Order on Implementation

Status: Implementing initial framework, but Japan’s new leader has left the door open to future adjustments.

• Purchase commitments of $8 billion per year in U.S. ag products, including corn, soybeans, fertilizers, bioethanol, and sustainable aviation fuel.
• A commitment to increase purchases of U.S. rice by 75%.

European Union 

Public documents: Joint statement, EU Q&A on Joint Statement, White House Fact Sheet on initial deal, EU Explainer on initial deal 

Status: Implementing the joint statement terms

• The EU will eliminate tariffs on “industrial goods” and provide “preferential market access for a wide range of U.S. seafood and agricultural goods, including tree nuts, dairy products, fresh and processed fruits and vegetables, processed foods, planting seeds, soybean oil, and pork and bison meat.”
• Commitment to work together on “non-tariff barriers affecting trade in food and agricultural products, including streamlining requirements for sanitary certificates for pork and dairy products.”
• Commitment to work to address U.S. producer concerns over the EU’s forthcoming deforestation rules, in recognition that U.S. commodities pose a “negligible” risk.

Indonesia

Public documents: Joint Statement, White House Fact Sheet

Status: Finalizing deal

• Tariff reductions of “approximately 99%” on “a full range” of U.S. ag exports.
• A purchase commitment of around $4.5 billion in U.S. ag products, including soybeans, soybeans meal, wheat, and cotton.
• Exemptions for U.S. food and ag products from import licensing regimes.
• A commitment to ensure “transparency and fairness” in geographical indicators, including meats and cheese.
• A commitment to give U.S. plant products permanent Fresh Food of Plant Origin designations.
• A commitment to recognize U.S. regulatory oversight of all U.S. meat, poultry and dairy facilities and accept certificates issued by US authorities.  

Philippines

Public documents: Trump Truth Social

Status: Negotiations ongoing

Note: Soybeans already have a 0-1% tariff rate in the Philippines. The tariff rate for wheat is zero, as per a 2024 executive order. 

South Korea

Public documents: Trump Truth Social

Status: Negotiations ongoing

Vietnam

Public documents: Trump Truth Social

Status: Negotiations ongoing

• Trump says: “Vietnam will do something that they have never done before, give the United States of America TOTAL ACCESS to their Markets for Trade,” Trump said in Truth Social post announcing the deal. Vietnam has disputed the terms that Trump announced, particularly the top-line tariff rates, according to reporting from Politico. No deal text or joint statements have been provided from either side related to the agreement. Trade negotiators continue to meet.

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