China – U.S. Trade Agreement Questions Abound
Questions continue to bubble up over the phase one trade agreement between the U.S. and China. Earlier this week, the Wall Street Journal reported uncertainties surround China's commitment to buy U.S. ag products. The story cited questions remain over just how much and when China will begin buying U.S. commodities.
Last Friday, President Trump said China had agreed to buy between 40 and $50 billion worth of us agriculture in less than two years.
Chinese negotiators continue to say purchases must be based on actual demand and will be made at fair market prices. According to officials, it will take up to five weeks to see the official language of any conclusion to the phase one agreements. Still, the deal could be signed by President Trump and Chinese leader Xi Jinping on the sidelines of the APEC Forum next month in Chile.
President Trump said more about the deal at the White House on Wednesday.
“There's been a lot of goodwill between the United States and China over the last period of time,” he said. “So, we're signing from 40 to $50 billion, as it was incorrectly reported in the press shockingly, and that will take place. It's already started taking place, they're already purchasing a lot of farm products.”