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Shining Light on Farm & Food Policy for 20 Years.
Saturday, November 09, 2024
Top U.S. and Chinese trade officials met over the phone Tuesday to try to further negotiations to end the countries’ trade war, said to President Donald Trump, who said the negotiations were “productive” and offered optimism that a conclusion could come soon.
President Donald Trump said Thursday he will hit roughly $300 billion worth of Chinese goods — effectively the only goods remaining untaxed in the ongoing trade war — with a 10% tariff on Sept. 1, raising concerns that the recently renewed trade talks are not going well.
The U.S. and China have wrapped up their first round of face-to-face trade negotiations since talks fell apart in May and both sides agreed to meet again in September as President Donald Trump continues to tone down expectations of a quick resolution.
Agriculture will be one of the core subjects when U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin travel to China next week to resume trade talks, according to a White House statement released Wednesday.
The telephone talks between U.S. and Chinese trade negotiators went well last week, potentially leading to an in-person meeting next week and an increase in Chinese imports of U.S. soybeans, according to Chinese and U.S. sources.
The Trump administration is looking this week to increase the pressure on Congress to approve the U.S.-Mexico-Canada trade agreement while making progress with China in the wake of the recent meeting between President Donald Trump and Chinese leader Xi Jinping.
The U.S., Canada and Mexico are getting close to a deal to lift U.S. steel and aluminum tariffs on its North American allies, clearing the way for ratification of a new trade pact for the three countries, says U.S. Treasury Secretary Steven Mnuchin.
The optimism coming out of the White House and USDA for a U.S. deal with China to end the trade war has been growing for months, but the rosy outlook dimmed this week because of a new rift between both countries’ negotiators.
The Trump administration resumes negotiations with China this week in pursuit of an elusive trade deal, while Congress returns from its two-week Easter recess with a long to-do list that includes a disaster aid bill that is stalled in the Senate.
The U.S. and China have settled on a way to enforce agreements made in a pact to end the trade war between the two countries, U.S. Treasury Secretary Steven Mnuchin said Wednesday in a CNBC interview.
