China’s Ag Buying Surges Ahead of Trade Talks
Late last week, China said it’s already bought a considerable number of U.S. soybeans and pork as it prepares for the next round of trade talks with Washington, D.C.
The Chinese Ministry of Commerce said both countries are in close communication ahead of the next round of talks. A ministry spokesman says as China has ramped up its purchases, the tariffs on those recent orders will be exempted. The Ministry said, “China’s stance has always been consistent and clear, hoping the U.S. will meet China halfway.”
China purchased $5.9 billion in U.S. farm products in 2018. Tensions between the two largest economies in the world seem to have eased ahead of trade talks next month. President Trump granted tariff exemptions to many Chinese products, while China said it will exempt U.S. agricultural products and other goods from additional tariffs.
Trump said last week that a U.S. and China trade deal could possibly arrive sooner than expected. He made those comments shortly after House Democrats announced an impeachment inquiry.