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China Says There is No Rush to Restart Trade Talks

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Beijing says it’s in “no rush” to get talks going again between the U.S. and China. That’s from the South China Morning Post. The Chinese newspaper says the country is prepared to not meet with President Trump if he’s “not prepared to be realistic.” In the article the Chinese government appeared to invite a U.S. delegation to make a trip to Beijing for more discussions. However, there’s no schedule set in stone yet and CNBC says negotiations are “in flux.” The South China Morning Post says Chinese state media outlets have gone on the offensive.

An international relations expert at the Chinese Academy of Social Sciences tells the paper, “There’s no need to get into frantic calculations about when he (Trump) will come if the U.S. continues to lack sincerity. After all, enough has been said by both sides in many different rounds of talks.” A Peking University international relations professor says, “The standoff should last for a while because the U.S. has refused to make even the slightest compromise, to a point that’s somewhat unreasonable.” China put retaliatory tariffs on $60 billion worth of U.S. goods in response to President Trump increasing tariffs on another $200 billion in Chinese goods.

Meanwhile, Chinese purchases of Canadian soybeans have “slowed to a trickle,” according to the Financial Post. Those purchases have dropped 95 percent in the first few months of 2019 because of “tensions between Ottawa and Beijing.” The purchase decline comes in addition to Chinese authorities ramping up pre-entry inspections of shipments from Canada. Soybean shipments from Canada to China plunged to just 3,282 tons between January and March, down from just shy of 73,000 tons during the same period a year ago. The sudden drop in exports is even more eye-opening when compared to Chinese purchases late last year.

China purchased a record 3.2 million tons of Canadian soybeans over the last four months of 2018. “Trade with China fell off a cliff,” says Ron Davidson, Executive Director of Soy Canada. “They slowed to a trickle after December. Now, exporters are being told that their shipments are being held for further testing and that China is testing for things it never has before.” China also stripped the import permits of two Canadian canola exporters. They’ve also halted more purchases of canola over concerns about “prohibited pests” found in shipments.