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Hope for US-China trade deal? Chinese firms inquire about US agricultural prices, report says, after Trump delays new tariffs

A high Chinese language official mentioned Thursday that corporations within the nation have been inquiring concerning the costs for U.S. soybeans and pork in what may very well be a constructive signal throughout commerce negotiations.

Gao Feng, spokesman for the Chinese language Commerce Ministry, appeared to voice optimism about upcoming negotiations in Washington, saying at a weekly information briefing he hoped “each international locations will create favorable circumstances” to go ahead, in accordance with Reuters.

Hours earlier, President Trump introduced on Twitter that he determined to delay — for 2 weeks — one other spherical of tariffs will increase on Chinese language imports. He known as his determination a goodwill gesture.

TRUMP STANDS FIRM ON CHINA TRADE WAR AS TALKS POISED TO RESUME, SAYS CRITICS ‘DON’T HAVE THE GUTS’

“On the request of the vice premier of China, Liu He, and because of the truth that the Folks’s Republic of China will probably be celebrating their 70th Anniversary on October 1st, we’ve got agreed, as a gesture of excellent will [sic], to maneuver the elevated Tariffs on 250 Billion {Dollars} value of products (25% to 30%), from October 1st to October 15th,” Trump wrote on Twitter.

The talks are anticipated to happen in Washington subsequent month. Trump’s plan to extend tariffs was met with opposition by farmers.

For greater than a yr, the world’s two largest economies have been locked in a high-stakes duel marked by Trump’s escalating penalties on Chinese language items and Beijing’s retaliatory tariffs.

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The U.S. just lately imposed 15 % tariffs on about $112 billion of Chinese language imports. In whole, Trump has imposed or introduced penalties on about $550 billion of Chinese language merchandise, or virtually the whole lot the U.S. buys from the world’s No. 2 financial system.

The Related Press and Fox Enterprise contributed to this report.

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Barry Allen
Barry Allen is a Politics expert and a social worker, And has been working in the politics world. He currently contributes for Trevino by covering all the politics event around the US.

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