U.S. trade negotiators agree to hold off on tariffs as China promises to buy more American farm products - Entrepreneur Generations

China has once again promised to buy more American agricultural goods while U.S. trade negotiators have once again said that, in return, they will hold off on a planned tariff increase on imported Chinese goods, William Mauldin, Chao Deng and Vivian Salama report for The Wall Street Journal.

President Trump said the Chinese agreed to buy between $40 billion and $50 billion in farm goods, though "he has in the past promised trade talk breakthroughs that did not materialize," The Washington Post's David Lynch notes.

China recently began increasing purchases of U.S. farm products in anticipation of a trade deal, but there's a lot of ground to make up: U.S. soybean sales to China fell from $12.2 billion to $3.1 billion in the past year, Lynch reports.

"The two sides left many details to be worked out in the weeks or months ahead on tough issues including China’s enforcement of intellectual property rules, U.S. access to Chinese markets, Chinese government support for state-owned enterprises, and the fate of U.S. tariffs on nearly $360 billion worth of Chinese imports already in place," The Wall Street Journal reports. "The planned tariff increases in December on electronics, apparel and other imported consumer goods—a big uncertainty for many U.S. firms—haven’t been shelved so far, Mr. Trump’s trade adviser, Robert Lighthizer, said in the Oval Office."

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