China appears to be getting ready to follow through on commitments it made with the White House in a short-term trade bargain with the U.S. Politico calls it a potentially encouraging sign for U.S. ag producers. A Chinese government official said the two countries reached agreement in sectors like agriculture, autos, and energy. U.S. President Donald Trump and Chinese President Xi Jinping reached a short-term trade truce during discussions in Buenos Aires.
Politico quotes a Bloomberg report saying Beijing officials are preparing to resume importing products like soybeans and liquefied natural gas. That appears to confirm White House statements that said China will begin buying more American farm goods “immediately.” It’s not known for sure if China will drop its retaliatory tariffs on soybeans and other commodities, or possibly compensate customers. It’s also unclear yet when the promised purchasing will begin. In another positive sign for the long-term discussions, China also announced new punishments for IP theft. That’s one of the central disputes the U.S. hopes to resolve through further negotiations over the next three months.
Source: NAFB News Service