US: China already snapping up U.S. farm goods, Trump claims - - PressFrom - US
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US China already snapping up U.S. farm goods, Trump claims

02:45  14 october  2019
02:45  14 october  2019 Source:   nbcnews.com

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President Donald Trump asserted that China has already begun buying more U . S . agricultural products before last week' s trade deal has even been written. President Donald Trump shakes hands with Chinese Vice Premier Liu He in the Oval Office of the White House on Friday, Oct.

President Donald Trump has boasted that farmers will be struggling to meet demand from China under the terms of a tentative new trade deal. At a rally in Louisiana on Friday night, Trump bragged that the first phase of a deal to end a trade war with China could see U . S . agricultural imports soar to as much

President Donald Trump boasted Sunday without providing evidence that China had "already begun" making large purchases of U.S. agricultural products as part of last week's tariff deal with Beijing.

Cui Tiankai et al. standing in front of a crowd: Image: President Trump Meets With China's Vice Premier  Amid Trade Talks In Washington© Win McNamee Image: President Trump Meets With China's Vice Premier Amid Trade Talks In Washington

Trump announced the partial agreement on Friday, calling it a "substantial phase-one deal" that would take three to five weeks to write. He offered no details on Sunday to support his assertion that China had already begun making purchases weeks before terms of the deal are codified.

The United States had planned to raise tariffs on $250 billion of Chinese imports from 25 percent to 30 percent on Tuesday, but Treasury Secretary Steven Mnuchin said Friday that the increase wouldn't take place.

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Trump ’ s comments came after his decision Wednesday to delay increasing tariffs on 0 billion of Chinese goods until Oct. The Wall Street Journal reported that in preparation for a new round of U . S .- China talks scheduled to take place in Washington in early October, Chinese negotiators are

President Trump and his Chinese counterpart, Xi Jinping, agreed to a compromise on trade in recent days as The American farm economy has stumbled into recession, hurt by a sharp drop-off in In a statement, the U . S .- China Business Council, which represents American companies that do business

The United States is China's biggest export market, but U.S. purchases of Chinese goods have plummeted since the punitive U.S. tariffs on $112 billion of Chinese goods went into effect over the summer, targeting China's growing strength in the technology sector.

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"My deal with China is that they will IMMEDIATELY start buying very large quantities of our Agricultural Product, not wait until the deal is signed over the next 3 or 4 weeks," Trump tweeted on Sunday. He said on Friday that the agricultural purchases would eventually total $40 billion to $50 billion.

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President Trump : Have a substantial phase one deal with China . "Phase two will start almost immediately" after the first phase is signed, Trump said in the Oval Office alongside Chinese Vice Premier Liu He. Liu, asked the same question by CNBC, summed up the difference as "cooperation."

U . S . President Donald Trump said he and his Chinese counterpart Xi Jinping agreed on Saturday that the United States would refrain from raising levies on Chinese imports for now while China would buy more U . S . agricultural products. "We're holding back on tariffs and they're going to buy.

Mnuchin said no decision had been made on whether to kill or delay another round of tariffs scheduled to take effect on Dec. 15. Trump has said talks on a "phase two" deal would start almost immediately.

Trump's promotion of the tariff arrangement comes only a week and a half after he called on the Chinese government to investigate former Vice President Joe Biden and his son, Hunter, over Hunter Biden's involvement with a private equity fund that has raised money in China.

An attorney for Hunter Biden said Sunday that his client would step down from the fund and that he would avoid future work that might pose conflicts of interest should his father win the White House.

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