President Trump’s trade war against China did not reverse a U.S. decline in manufacturing, economic data show. Administration officials point out nonetheless that the tariffs have succeeded in forcing China to agree to a phase one trade deal.
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The primary significance of the talks is that they occurred at all, said trade experts, given the deepening divides between the two nations.
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While the handful of seeds identified do not pose a threat, the agency continues to advise recipients of the packets against planting them.
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An economist says it is encouraging that despite ongoing political tensions, China has remained an active buyer of U.S. soybeans. With Brazilian supplies running out, China will have to keep coming to the U.S.
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One third of companies with global supply chains have moved–or soon will move–their sourcing and manufacturing activities out of China.
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Chinese buying made up roughly 56 percent of all new soybean export sales in the past month. By comparison, Chinese buying made up only 27 percent of U.S. soybean export sales in 2020 through May.
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China has promised “firm countermeasures” in response to a move by the White House on Friday to eliminate special treatment for Hong Kong. Those countermeasures are believed to include importing fewer commodities.
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China’s hog herd is recovering well from African swine fever. The country is expected to accelerate soybean purchases from the U.S. between May and August.
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Trade leaders for U.S. and China stay focused on deal amid global pandemic.
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The U.S. and China took the first steps last week in implementing a trade deal that ultimately could generate an additional $32 billion in agriculture exports to China.
Read morePresident Trump welcomes Chinese officials to D.C. this week to sign the recently negotiated phase-one trade deal with China. Final approval is expected as early as this week on USMCA.
Read moreA phase-one trade deal stipulates China buy $200 billion worth of U.S. goods and services, which includes $40 to $50 billion worth of agriculture products.
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U.S. pork producers see a potential $24.5 billion annual market in China within 10 years if the Trump administration can gain unrestricted trade access after the Asian country’s hog herd has been devastated by disease.
Read morePresident Trump told reporters Monday that China wants to find common ground in trade negotiations. Kellyanne Conway, a senior adviser to Trump, said a trade deal with China is possible by year’s end. New tariffs are scheduled to take effect Dec. 15.
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The opportunity to fill China’s pork gap with chicken has U.S. poultry executives salivating. China has lifted a ban put in place after the avian flu outbreak in 2015. With the country losing much of its swine herd, it is hungry for protein and importing chicken again.
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President Donald Trump said that the U.S. hasn’t agreed to roll back all tariffs on China, muddying hopes raised by China and even some of the president’s own aides that the U.S. was ready to lift some tariffs to secure a trade deal.
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China wants a rollback in tariffs in the trade war before it can feasibly agree to buy as much as $50 billion of American agriculture products.
Read moreExport sales of American pork soared earlier this month as buyers stocked up in anticipation of a widening protein gap created by the spread of a pig-killing disease in Asia.
Read moreChinese buyers have “completed deals to buy soybeans and pork of considerable scale.” Negotiators are due to resume talks this month in Washington.
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China newswire Xinhua revealed something interesting. It said Beijing “will allow Chinese businesses to purchase a certain amount of soybeans and pork from the United States.” The word “allow” is key.
Read morePresident Donald Trump said Sunday that tariffs on $200 billion of Chinese goods will increase to 25 percent on Friday,
Read moreChina’s Agriculture Ministry says more than 80 percent of hog farms in China have decided not to replenish herds lost
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