China Buys Ag Products of ‘Considerable Scale’

Chinese importers have set deals to buy American soybeans and pork, the Ministry of Commerce said late last week, as the two governments make conciliatory gestures ahead of trade talks.

The announcement follows Beijing’s decision to lift punitive tariffs on soybeans, China’s biggest U.S. import.

Chinese buyers have “completed deals to buy soybeans and pork of considerable scale,” said ministry spokesman Gao Feng. He gave no details.

Negotiators are due to meet this month in Washington for a 13th round of talks aimed at ending the dispute over trade and technology.

President Donald Trump and his Chinese counterpart, Xi Jinping, agreed in June to resume stalled talks. But there has been no sign of progress.

Trump agreed earlier to postpone a planned Oct. 1 tariff hike on Chinese imports until Oct. 15. That raises the possibility that the increase might be put off indefinitely if talks make progress.

Source: Associated Press