- China offers to buy extra 10m tonnes of U.S. goods to “reset” the troubled talks - FT reports, citing people briefed on ongoing U.S.-China negotiations
Market news
9 October 2019
China offers to buy extra 10m tonnes of U.S. goods to “reset” the troubled talks - FT reports, citing people briefed on ongoing U.S.-China negotiations
- “Liu He is coming with real offers, it’s not an empty visit,” told FT one of the people briefed on the talks. “The Chinese are ready to de-escalate.”
- China's officials seek an interim agreement between Beijing and Washington that will stave off a new round of tariff hikes on October 15
- Both sides want to “reset” the troubled talks ahead of a potential November meeting between Donald Trump and Xi Jinping at the annual summit of Asia Pacific Economic Conference leaders in Chile in mid-November
- Liu is offering to boost annual purchases of soy beans to 30m tonnes from current 20m tonnes, despite U.S. sanctions announced this week against Chinese companies and officials allegedly involved in human rights abuses in Xinjiang
- China is also to make a raft of changes to non-tariff barriers that have long frustrated the U.S. Department of Agriculture (USDA)
- China hopes its agriculture-related concessions, combined with previously announced market-opening measures in areas such as financial services, to provide the basis for a similar interim agreement with the U.S.
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