Ag purchase details remain murky on China trade deal - Entrepreneur Generations

U.S. and Chinese negotiators unveiled an interim trade agreement last week, but some trade issues still remain unresolved, and the details of the agreement are unclear. The 86-page agreement, which hasn't been made public yet, is expected to be signed in January, Evelyn Cheng reports for CNBC.

Because trade issues between the two nations are so contentious and wide-ranging, negotiators agreed to break the talks into phases. Both countries announced they had agreed on a "phase one" deal that includes agricultural purchases. President Trump said he expected China to buy $50 billion in U.S. ag products "pretty soon" and "U.S. Trade Representative Robert Lighthizer told reporters that China would buy at least $16 billion more agricultural goods in each of the next two years. The report said that could bring total purchases to near $50 billion in 2020 and 2021," Cheng reports.

However, Nomura economic analysts, including chief China economist Ting Lu, wrote in a statement this weekend that "That scale of purchases seems implausible and Chinese officials were reluctant to mention any specific target during their press conference," Cheng reports.

from The Rural Blog https://ift.tt/2YQUpjG Ag purchase details remain murky on China trade deal - Entrepreneur Generations

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