China, US Trade Talks Coming

More trade talks between China and the U.S. are on the horizon. However, the questions of if and when remain. Last week, the Trump administration declined to confirm any plans to meet with China regarding the Phase 1 trade deal.

According to Reuters, a spokesperson for China’s Commerce Ministry last week stated bilateral talks would be held “in the coming days” to evaluate the agreement’s progress. Previously planned for August 15, China claims the meeting was moved due to a scheduling conflict.

Yet, President Donald Trump claims he canceled the meeting, because, he says, “I don’t want to deal with them now.”

China is buying more U.S. commodities, a promise made in the Phase 1 agreement. However, the most recent data suggests China is behind pace to fulfill its commitments.

China has committed to buying more new crop soybeans and sorghum from the United States. And, while China is purchasing more U.S. new crop corn, the purchases still lag from prior levels.

Recommended Posts