Thursday, December 13, 2018
 
Columnist
Martin Hennecke

China to resume US imports
 
06/12/2018
 
Chinese officials have begun preparing to restart imports of US soybeans and liquefied natural gas, the first sign confirming claims by President Donald Trump and the White House that China had agreed to start buying some US products "immediately."

Chinese officials have been told to take necessary steps for the purchases, according to two officials with knowledge of the discussions.

It wasn't clear whether the preparations meant China would cut retaliatory tariffs imposed on those products, or when the purchases would happen.

It is possible that Beijing could reimburse buyers for the tariffs they pay, as they have done for purchases for the state soybean reserve.

Chinese purchases of the goods collapsed after Beijing imposed tariffs on them in retaliation for US import taxes. The two nations agreed to temporarily halt the spiraling exchange of tariffs over the weekend, promising to try and iron out their differences by the start of March next year.

China's Ministry of Commerce didn't respond to phone calls and a faxed request to comment.

Chinese imports of American soybeans fell 95 percent in October compared to last year, damaging the prospects of Midwest farmers who are in the middle of harvest.

Previous news : Factory, consumer indexes fall
 

 

 
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