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World China Cancels U.S. Farm Tour, Stoking Pessimism on Trade Deal

00:25  21 september  2019
00:25  21 september  2019 Source:   bloomberg.com

China removes several US products from tariffs list

China removes several US products from tariffs list China on Wednesday said it would spare a number of US products from punitive tariffs in what is seen as an olive branch by Beijing in the protracted trade war ahead of high-level talks next month. 

These include Chinese purchases of U . S . farm commodities and the United States allowing firms to resume some sales to China ' s tech giant Huawei President Donald Trump said on Friday that he thinks China may not want to sign a trade deal until after the 2020 election in the hope that they

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A Chinese trade delegation canceled a planned visit to farms in the U.S. heartland, driving down stock indexes as investors turned pessimistic on progress toward resolving the two nations’ trade war.

The cancellation came only about an hour after President Donald Trump said he wasn’t interested in “a partial deal” with China based on Beijing increasing its purchases of U.S. agricultural products. U.S. and Chinese officials resumed negotiations this week and are aiming for a high-level meeting around Oct. 10.

Trump advisers consider interim China deal to delay tariffs

Trump advisers consider interim China deal to delay tariffs Trump administration officials have discussed offering a limited trade agreement to China that would delay and even roll back some U.S. tariffs for the first time in exchange for Chinese commitments on intellectual property and agricultural purchases, according to five people familiar with the matter. Some of President Donald Trump’s top trade advisers in recent days have discussed the plan in preparation for two rounds of face-to-face negotiations with Chinese officials in Washington, due to take place in coming weeks, the people said. The discussions are preliminary and Trump has yet to sign off on it.

These include Chinese purchases of U . S . farm commodities and the United States allowing firms to resume some sales to China ' s tech giant Huawei President Donald Trump said on Friday that he thinks China may not want to sign a trade deal until after the 2020 election in the hope that they

These include Chinese purchases of U . S . farm commodities and the United States allowing firms to resume some sales to China ' s tech giant Huawei President Donald Trump said on Friday that he thinks China may not want to sign a trade deal until after the 2020 election in the hope that they

The S&P 500 Index, which had been up for the day, turned down following news of the canceled farm trip -- dropping as much as 0.7% within minutes. The Nasdaq Composite slumped as much as 1.2%.

The decline marks the latest whipsaw for markets that have been roiled repeatedly by the conflict between the world’s two largest economies. Hope for a deal, which all but evaporated when talks broke down in May, was rekindled over the summer as both sides pledged to reopen talks. But in August, Trump said he would ratchet up tariffs on Chinese imports; then last week he delayed an increase scheduled for Oct. 1.

‘Goodwill’ Gesture

U.S. Secretary of Agriculture Sonny Perdue said Thurday that the Chinese delegation’s farm tour represented a “goodwill” gesture by Beijng.

Trump trade-war aid sows frustration in farm country

Trump trade-war aid sows frustration in farm country Trump trade-war aid sows frustration in farm country

These include Chinese purchases of U . S . farm commodities and the United States allowing firms to resume some sales to China ' s tech giant Huawei President Donald Trump said on Friday that he thinks China may not want to sign a trade deal until after the 2020 election in the hope that they

WASHINGTON — As a critical round of talks with China kicks off next week, the Trump administration is increasingly pessimistic that Beijing will make the kind of deep structural changes to its economy that the United States wants as part of a comprehensive trade agreement

But on Friday, the Montana Farm Bureau Federation said it was told by the Chinese embassy that the delegation “had an adjustment of their agenda” and would return to China earlier than planned. The Nebraska Department of Agriculture, which also had planned to host the delegation, confirmed their visit was canceled, too.

U.S. farming has become a main target for Beijing, where leaders are cognizant of the political importance of rural American to Trump’s re-election. China’s retaliatory tariffs on everything from American apricots to soybeans crimped demand at a time when producers have also suffered from extreme weather.

But Trump told reporters in a meeting with Australian President Scott Morrison on Friday that the dispute won’t damage his 2020 bid for re-election. He said he wouldn’t relent without reaching a “complete deal” with China.

Scott Morrison, Donald Trump are posing for a picture: President Trump Welcomes Australian Prime Minister Scott Morrison To Washington On State Visit© Bloomberg President Trump Welcomes Australian Prime Minister Scott Morrison To Washington On State Visit

Donald Trump speaks next to Scott Morrison in Washington on Sept. 20.

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These include Chinese purchases of U . S . farm commodities and the United States allowing firms to resume some sales to China ' s tech giant Huawei President Donald Trump said on Friday that he thinks China may not want to sign a trade deal until after the 2020 election in the hope that they

These include Chinese purchases of U . S . farm commodities and the United States allowing firms to resume some sales to China ' s tech giant Huawei President Donald Trump said on Friday that he thinks China may not want to sign a trade deal until after the 2020 election in the hope that they

Trump said that while he has an “amazing” relationship with Chinese President Xi Jinping, right now they’re having “a little spat.”

“I think the voters understand that,” the president added. “I don’t think it has any impact on the election.”

Bad-Faith Accusations

Nevertheless, Trump said it would probably be “positive” for his re-election prospects if the two countries can reach a deal.

Top White House economic adviser Larry Kudlow said recent developments have created a “positive atmosphere” surrounding the standoff, which has been fueled by accusations of bad faith from both sides.

Read more: Montana Farm Bureau Says China Visit to State’s Farms Canceled

But Trump’s remarks Friday tempered any optimism that a partial deal may break the impasse. Administration officials previously have discussed offering an interim trade agreement to China that would delay and even roll back some U.S. tariffs in exchange for Chinese commitments on intellectual property and agricultural purchases.

A limited deal would likely jolt markets and ease the economic burden caused by the conflict as Trump ramps up his 2020 re-election campaign. The president has repeatedly denied that the tariffs have hurt the U.S. economy, saying China is bearing the burden.

To contact the reporters on this story: Mike Dorning in Washington at [email protected]; Jordan Fabian in Washington at [email protected]; Mario Parker in Chicago at [email protected]

To contact the editors responsible for this story: Alex Wayne at [email protected], Joshua Gallu

For more articles like this, please visit us at bloomberg.com

©2019 Bloomberg L.P.

Trump announces the first stage of a trade deal with Japan .
US President Donald Trump on Wednesday said Washington and Tokyo had taken a major step towards sealing a comprehensive new trade deal, after a year of negotiations between the global economic powers. Sitting next to Japanese Prime Minister Shinzo Abe, Trump said the leaders "formally announce the first stage of a phenomenal new trade agreement," adding "this is a big chunk, but in the fairly near future we are going to have a lot more." AsSitting next to Japanese Prime Minister Shinzo Abe, Trump said the leaders "formally announce the first stage of a phenomenal new trade agreement," adding "this is a big chunk, but in the fairly near future we are going to have a lot more.

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