Reuters revealed that Beijing could remove extra tariffs imposed since last year on U.S. farm products to ease the way for importers to buy up to $50 billion worth, rather than direct them to buy specific amounts. U.S. President Donald Trump said earlier this month that China had pledged to spend between $40 billion and $50 billion on U.S. agricultural products annually as part of a deal to end a trade war that broke out last year. But the demand has become a major sticking point in the bilateral trade talks, as Beijing wants to buy based on market conditions instead of committing to a large figure and a specific time frame.
Reuters reveals Beijing could slash tariffs on U.S. farm products to boost imports
31 October 2019, 12:00 am 1 minute
Type: Reuters Best
Sectors: Commodities & Energy