Kudlow says USA expects China to start purchasing crops very soon

Marco Green
July 11, 2019

Ministry spokesman Gao Feng also said during a weekly news briefing that China hopes the USA will remove sanctions on Huawei Technologies Co Ltd as soon as possible and clear a path for healthy bilateral relations. China bought 127,800 metric tons of US soybeans last week, the equivalent of about two cargoes and a 79% reduction from the previous week. The Chinese commerce ministry said in a brief statement that the two sides exchanged "opinions on implementing the consensus reached between the two countries' heads of state in Osaka".

"China believes that both sides can find a way to resolve the issue if each other's reasonable concerns are taken into consideration through a dialogue of equals".

Donald Trump complained that China hasn't increased its purchases of American farm products, a promise he said he had secured at a meeting with the country's president, Xi Jinping, at the Group of 20 summit last month.

But no deadline has been set for the process to conclude, leaving the possibility of protracted negotiations. Talks had broken down in May over U.S. accusations that Beijing had reneged on its commitments, and the dispute escalated with the two sides exchanging steep increases in punitive tariffs.

White House economic adviser Larry Kudlow said on Thursday the United States expects China to start purchasing crops and USA agricultural products soon and noted that trade talks between the two countries are ongoing.

Xi and Trump agreed to restart trade talks between their countries at the meeting, and the US president said he would hold off on imposing additional tariffs on Chinese imports.

Other reports by Click Lancashire

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