China Appears Ready to Purchase U.S. Ag Products

China seems prepared to follow through on commitments it made with the White House in a short-term trade bargain. 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.

That appears to confirm White House statements that said China will begin buying more American farm goods “immediately.” It is not known if China will drop its retaliatory tariffs on soybeans and other commodities, or possibly compensate customers. It’s also unclear 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.