CNBC's Eunice Yoon joins 'Closing Bell Overtime' to talk how U.S. soybean farmers are trying to pitch their product to China amid trade turmoil.

Beijing

A delegation of U.S. soybean farmers, including Illinois farmer Scott Gaffner, traveled to Shanghai to advocate for renewed exports to China, a crucial market for their crops. The visit followed high-level talks between President Trump and President Xi Jinping, which aimed to revive stalled soybean sales affected by the trade war.

Although the White House announced potential new Chinese purchases of U.S. soybeans, these figures have not been confirmed by China and remain below previous levels. Despite some easing of trade restrictions, a 13% Chinese tariff on U.S. soybeans continues to disadvantage American farmers, and the future of the trade relationship remains uncertain due to ongoing structural differences and informal agreements.

China Lens: U.S. Soybean Farmers make pitch to China

Illinois soybean farmer Scott Gaffner has come to Shanghai to save his China business. We want to make sure that our soybeans are getting exported to China because it's a very important market to us. Gaffner is part of a delegation of American farmers who visited an import fair here after President Trump met China's Xi Jinping in South Korea in part to reboot stalled U.S. soybean sales. Amid the current trade war, the Chinese specifically targeted U.S. soybeans to pressure President Trump. That caused major financial problems for American farmers like Mr. Gaffner. Gaffner sold 40 percent of his soybean exports to China when he arrived in Shanghai zero. Normally whenever we're producing or we're combining the soybeans, we're going to take them right to the river, down the river to Louisiana and then ship that to China. But with China not buying any soybeans, we're taking them right to our bins and we're storing them in our bins. Even before the trade war, the Chinese have been buying more from other countries like Brazil and Argentina to diversify away from the United States. After Trump's talks with Xi, there's hope business may be back. The White House says China will buy 12 million metric tons of soybeans by the end of this year and 25 million for each of the next three years. That's still down from the near 27 million China bought in 2024. China has yet to confirm the numbers. We'd like to have just kind of a continuation of smooth sailing. Do I think that's realistic? I don't know. These are two big, powerful countries, a lot of issues. That uncertainty is typical of the whole U.S.-China relationship. Is the relationship back to normal? Depending on how you define normal, the two sides have done enough to stabilize the relationship for the time being. The structural difference is to remain. Gaffner is still optimistic. Towards the end of his trip, he got a call his farm sold one shipment. We like no trade war because hopefully that levels the playing field and we just want to do business. American soybean farmers are still disadvantaged. The Chinese have lifted some retaliatory tariffs on certain agricultural products, but they maintain a 13 percent tariff on U.S. soybeans. So that just means that the U.S. soybeans are still more expensive compared to other countries. Yunus, it really seems like the soybeans and rare earths have been these two points of potential leverage that China has been using. And as you implied in the piece, it doesn't seem likely that this is going to go back up to the exact same levels as before, in part because, hey, making friends with Brazil is nice, no? Exactly. And I think that, you know, we are seeing some movement by the Chinese, including today, whereby they're following the steps of the meeting in Busan. So there has been some easing of restrictions on rare earths, as you mentioned. Also suspension of port fees. But I think what's important for investors to know is that the reality is that this agreement is really more of an informal arrangement. And so because of that, it wouldn't be out of the pattern of Chinese behavior to take advantage of that. And so if they don't like something that Washington is doing or in particular President Trump, then they could easily change course in the other direction. Because from the Chinese perspective, President Trump is moving in what they would believe is the right path. And it appears that they've been able to figure out which pressure points, like rare earths, like soybeans, would keep him on that right path.

President Trump met with Syrian President Ahmed Al-Sharaa at the White House as ties between the U.S. and Syria appear to strengthen. CBS News' Imtiaz Tyab reports.

Washington

Syria will join coalition against ISIS following meeting with Trump

A deadly car explosion in Delhi, India, killed at least eight people and injured at least 19 others on Monday, police said. Devina Gupta of the BBC, a CBS News partner, has more.

New Delhi

Deadly car explosion rocks India's New Delhi, eight killed

Syrian President Ahmed al-Sharaa is set to meet with President Trump at the White House after leading a surprise attack that toppled the Assad regime. CBS News' Ramy Inocencio reports.

Syrian President Ahmed al-Sharaa meeting Trump at White House

Super Typhoon Fung-wong slammed into the Philippines, bringing dangerous conditions to the country for the second time in a matter of days. CBS News' Anna Coren reports.

Manila

Super Typhoon Fung-wong batters the Philippines

Senate Republicans and some Democrats appear to have a plan to end the government shutdown. CBS News' Natalie Brand reports.

Democrats, Republicans reach deal that may end government shutdown

The director-general of the British Broadcasting Corporation (BBC) has resigned after a row over the editing of a speech made by U.S. President Donald Trump on the day of the 2021 attack on the United States Capitol.

London

BBC boss Tim Davie resigns after criticism over Trump speech edit

A Collaborative Combat Aircraft, the AI-powered fighter YFQ-44A has begun flight testing, as General Atomics takes to the sky as well.

California

Anduril's unmanned AI-powered fighter jet 'Fury' makes first flight

The U.S. Senate is voting on a bill to fund and reopen the government. Earlier Sunday, the Trump administration ordered states to "undo" SNAP benefits payments amid the funding halt.

Trump admin orders states to 'undo' SNAP payments ahead of Senate vote

Israeli settlers attacked a group of Palestinian villagers, activists and journalists on Saturday (November 8) who had gathered during an attempt to harvest olives near a settler outpost in the Israeli-occupied West Bank, witnesses said. Two Reuters employees were among those injured in the attack by the men who wielded sticks and clubs, and hurled large rocks at them.

Jerusalem

Israeli settlers attack Palestinians, journalists in West Bank

Ukrainian energy companies reported a complete power outage after two thermal power plants supplying the Kyiv and Kharkiv were struck overnight by Russia. Officials in Kyiv also shared that their forces carried out strikes targeting the Kremlin's energy sector, which it says funds the invasion.

Kyiv

Ukraine and Russia trade overnight strikes on energy facilities

A tragic Saturday in Tenerife left three people dead and at least 15 injured as exceptionally high waves gripped the Canary archipelago. Officials are reporting waves that can reach as high as four metres.

Tenerife

Three dead as giant waves lash Tenerife

COP30 has kicked off in Belem, Brazil, drawing 50,000 participants to the gateway to the Amazon rain forest. One key topic of the summit is adapting to a warmer world, as well as who will bear the costs for that.

Belém

Brazil welcomes world leaders to Amazon for COP30

Nearly a million people have been evacuated from their homes in the Philippines, as Super Typhoon Fung-wong approaches the country. It’s the most powerful storm to threaten the country this year and is due to make landfall just days after an earlier typhoon killed more than 200 people.

State of emergency declared as Super Typhoon approaches Philippines

This time last year, Ahmed al-Sharaa was wanted by the U.S. with a 10-million-dollar bounty on his head. Today, he's preparing to hold talks with Donald Trump in the White House as the president of Syria. Sharaa arrived in Washington a day after the U.S. removed him from a blacklist.

Damascus

Global sanctions on Syria eased as leader visits U.S.

At least 6 people are dead and 750 people injured after a tornado tore through a town in southern Brazil. Rescuers are still searching for survivors from under the remains of homes and businesses hit by the powerful storm.

Rio Bonito do Iguaçu

Brazil cleans up after deadly tornado

The U.S. government shutdown is now at 40 days—the longest in American history—with no sign of it ending soon. That’s led to chaos at airports but also knock-on effects across industries.

Miami

No end in sight for longest government shutdown in U.S. history

Delays are stacking up across the U.S. Throughout the day, ground stops have been put in place and lifted, fluctuating with staffing levels at several major airports. With more airline flight cuts coming, things will only get worse for flyers. Andres Gutierrez reports.

John F. Kennedy International Airport

Flight cuts could double if shutdown drags into Thanksgiving

Millions of Americans who depend on federally funded food assistance programs, known as SNAP, remain in limbo as the Supreme Court temporarily blocked a full payment of SNAP benefits for now.

Millions who depend on SNAP in limbo as Supreme Court blocks payment

The Supreme Court has ruled that the Trump administration could temporarily withhold SNAP benefits after a previous judge ordered the White House to provide full federal food benefits to states by Friday.

Latest Supreme Court ruling adds to shutdown confusion

Satellite imagery is showing details of the humanitarian crisis in Sudan amid the country's ongoing civil war. People in al-Fashir were shot in the streets, targeted in drone strikes, crushed by trucks and abducted, witnesses have said after the RSF, violently seized the Sudanese city.

Al Fashir

Satellite imagery shows horrors in Sudan

At least 14 people were killed in the UPS cargo plane crash near the Louisville International Airport on Tuesday, officials said. UPS and FedEx announced they were grounding their fleets of McDonnell Douglas MD-11 planes "out of an abundance of caution."

Louisville

At least 14 people killed in UPS plane crash, officials say

A deadly typhoon has hit Vietnam after wreaking havoc in the Philippines, where more than a hundred are dead and the number is expected to climb.

Hanoi

Typhoon Kalmaegi pounds Vietnam, death toll rising

In the U.S., more than 1,000 flights were cancelled and thousands more delayed as the Federal Aviation Administration struggles with the impacts of the 37-day government shutdown that left air traffic controllers without pay.

Los Angeles International Airport

Flight cancellations expanding fast due to U.S government shutdown

Ukraine says Russian drone and missile attacks have killed at least three people and damaged energy facilities in three regions. President Volodymyr Zelenskyy has admitted his forces are facing a “difficult situation” holding back Russian troops in the strategic city of Pokrovsk.

Pokrovsk

Ukraine Invasion

Deaths, injuries after Russia hits residential and energy sites in Ukraine

Colombia is once again at the centre of the global drug debate. Under President Gustavo Petro, the government has vowed to move away from decades of U.S.-backed eradication efforts. But as coca cultivation expands to record levels, Washington’s pressure is mounting.

Bogotá

Tensions growing between U.S. and Colombia

Hamas says it's retrieved the remains of an Israeli soldier from a tunnel near Rafah. It's believed to be the body of officer Hadar Goldin. He's one of the five remaining captives meant to be returned to Israel, under the terms of the Gaza ceasefire deal.

Tel Aviv-Yafo

Middle East Conflict

Hamas locates body of deceased Israeli soldier

The United States will officially boycott the upcoming G20 summit in South Africa, escalating a diplomatic dispute by reiterating his controversial claims about the treatment of white farmers in the country and calling the choice of host "a complete disgrace".

Cape Town

U.S. to boycott G20 summit in South Africa over abuse claims

A tornado accompanied by strong winds and heavy rain struck the southern Brazilian state of Parana, killing at least six people, the state government said on Saturday.

Guarapuava

Six killed after tornado lashes Brazil, hundreds injured

The Hungarian leader said he has managed to convince US President Donald Trump to grant his country a full exemption from sanctions for the purchase of Russian energy, after detailing to him the dire consequences it would have on the Hungarian people.

Trump to grant Hungary exemption from sanctions on Russian energy

World leaders are gathering at the heart of the Amazon for global climate summit COP30 in Belem, Brazil, with Earth set to surpass 1.5 C of warming in the next decade, a climate change skeptic in the White House and worry that global co-operation to fight climate change is collapsing.

Breakdown