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More Optimism for Upcoming Talks Between the U.S. and China

Dan Exports/Imports, Industry News Release, Soybeans, Trade

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(NAFB) — The Chinese Vice Premier, who’s leading China’s efforts in the trade talks with the United States, will be back in Washington next week. An Agri-Pulse report says he’ll be across the table from U.S. Trade Representative Robert Lighthizer.

Earlier this week on the sidelines of the United Nation’s General Assembly in New York, U.S. Treasury Secretary Steven Mnuchin said, “We’re looking forward to those conversations.”

Deputy Ag Secretary Steve Censky spoke in Kansas City on Monday during the annual Ag Outlook Forum. He said the conversations that took place last week with Chinese officials were “positive and productive.”

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Several media reports say Chinese buyers purchased between 600,000 and 1.5 million metric tons of U.S. soybeans on Monday for delivery between October and December. The U.S. Soybean Export Council reports that China relaxed import tariffs for the purchases to make sense, given a price spread that favored U.S. soybeans.

Additionally, Mnuchin admitted Monday that it was a White House decision to call off a planned trip a Chinese delegation was going to take to Montana and Nebraska this week. Mnuchin said officials “didn’t want any confusion around the trade issues.”

Source: National Association of Farm Broadcasters