China doubles U.S. soybean imports after "phase one" trade deal announcement

China imported 2.6 million tons of U.S. soybeans in November — more than double the previous month — after the announcement of its "phase one" trade deal with the U.S. in October, AP reports.

Why it matters: Soybeans are China's largest U.S. import, but the country stopped purchasing them in the midst of a trade war spurred by U.S. tariffs. While specific details surrounding the "phase one" agreement have yet to be released, the portions unveiled earlier this month amount to little more than an agriculture purchase agreement, per Axios' Dan Primack.

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