Trump Hits Out at China Over Slowing Agricultural Purchases

Andrew Cummings
July 12, 2019

"Mexico is doing well at the border, but China is disappointing us by not buying products from our great farmers as they said they will".

China president Xi Jinping and U.S. president Donald Trump agreed on resuming the trade talks at the G20 summit after a seven-week stalemate. "Hopefully they will start soon!" But US President Donald Trump and Chinese leader Xi Jinping agreed to revive negotiations when they met on the sidelines of the G20 summit in Japan on June 29. Kudlow noted that Trump has agreed to hold off on imposing new tariffs and will allow certain USA products to be sold to Chinese telecom giant Huawei.

Top US and Chinese negotiators held phone talks on Tuesday as the world's top two economies seek to resolve their trade war, more than a week after they declared a truce.

"China is going to be buying a tremendous amount of food and agricultural product, and they're going to start that very soon, nearly immediately". Trump said on Twitter. USA stocks pared gains after the president's tweet.

Trump promised not to impose new tariffs on Chinese goods and to ease restrictions on technology company Huawei, and said Xi had vowed to buy more products grown by American farmers, though the Chinese never confirmed the hike in farm imports.

China's finance minister Liu Kun said at a conference on Wednesday the Chinese government has the confidence that its annual economic growth can remain within the 6-6.5% range. He had previously threatened to put punitive duties on an additional $300 billion in Chinese exports.

In March 2018, a Section 301 investigation, conducted by the U.S. Trade Representative's office, concluded that Beijing was engaging in state-sponsored theft and the forced transfer of U.S intellectual property.

Last month, a former Chinese diplomat, Zhao Weiping, told reporters in NY that the United States was asking "us to purchase more than we can buy".

In addition to opposing sharp-elbowed Chinese tech policies, the United States wants Beijing to buy more US products and to narrow America's trade deficit with China - a record $381 billion past year.

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