Presidential supper meeting between Xi and Trump sparks agricultural trade optimism

After several months of trade war escalation between the U.S. and China, a temporary truce has been reached, following Saturday’s presidential meeting between between the countries’ leaders.

Giving themselves 90 days to negotiate some solutions to over a hundred issues, the U.S. trade team led by U.S. Trade Representative Robert Lighthizer will attempt to force structural change in China. If a deal is not reached within 90 days, the U.S. intends to move ahead with its plan of increased tariffs as originally threatened and planned.

China’s foreign ministry says in a statement that the meeting was “very successful,” adding, “The two sides proposed a series of constructive plans on how to properly resolve existing differences and problems.”

There are varying opinions on what the U.S. can realistically achieve in 90 days, but soybean growers are very encouraged by China’s intention to resume the purchasing of U.S. farm products “immediately.” However, as of Monday morning, trade analysts tempered the optimism saying that crop buying won’t happen until China lifts its 25% tariff.

After what many people are deeming a successful weekend for relations between the two countries, President Donald Trump spent the majority of Monday morning tweeting details of the discussions.

Leave a Reply

 

This site uses Akismet to reduce spam. Learn how your comment data is processed.