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.
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 next round of high-level U.S.-China trade talks are on schedule for next month despite the White House axing Chinese plans for a key official to tour U.S. farms and processing facilities this week.
High-level U.S. and Chinese agricultural trade officials are prominent in the bilateral trade talks this week as Gregg Doud, the top ag negotiator for the U.S. Trade Representative, and Han Jun, China’s vice minister of agriculture and rural affairs, met together with others at USTR's Washington headquarters Thursday.
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.
Top U.S. and Chinese negotiators will meet in Washington next month to pick up on talks to try to end the trade war that is weighing heavily on U.S. farmers and manufacturers, according to Xinhua News, a Chinese government-run media outlet.
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.
Top U.S. and Chinese trade officials met over the phone Tuesday to try to further negotiations to end the countries’ trade war, said to President Donald Trump, who said the negotiations were “productive” and offered optimism that a conclusion could come soon.
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.