U.S. and Chinese negotiators have agreed to eliminate some tariffs “in phases” as talks continue to finalize a partial Phase One trade deal, a spokesman for China’s Commerce Ministry said Thursday at a press conference in Beijing.
U.S. and Chinese negotiators still aim to finish the "phase one" trade deal by mid-November despite the cancellation of a summit in Chile where President Donald Trump and Chinese President Xi Jinping had planned to sign the pact, says Deputy Agriculture Secretary Steve Censky.
President Donald Trump’s claim that China is willing to address “agricultural structural issues” in a trade deal has the U.S. ag sector excited that real change may be coming to the U.S-China trading relationship beyond just increased commodity sales.
The United States and China have agreed to a tentative trade deal that addresses biotechnology and other key agricultural issues while substantially boosting U.S. farm exports, President Donald Trump said Friday.
The trade war between the U.S. and China could go on for months or years, according to erratic statements from the White House, but for the first time in weeks, there is renewed optimism because China has agreed to new negotiations.
The U.S. and China are set to begin trade talks again after a tumultuous week of tension-escalating threats of new tariffs and tariff-rate increases that roiled international markets and alarmed the U.S. ag sector.
President Donald Trump said Thursday he will hit roughly $300 billion worth of Chinese goods — effectively the only goods remaining untaxed in the ongoing trade war — with a 10% tariff on Sept. 1, raising concerns that the recently renewed trade talks are not going well.
Agriculture will be one of the core subjects when U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin travel to China next week to resume trade talks, according to a White House statement released Wednesday.
By the end of the year, China is finally expected to implement the quotas for corn, wheat and rice as it agreed to do about 20 years ago, but it may not be a cause for celebration for American farmers.