[ad_1]
A farmer fills soybean planters in Gideon, Missouri.
Shannon Stapleton | Reuters
China does not buy crops in the United States, the world's two largest economies struggling to end their trade war, President Donald Trump said Thursday.
The president tweeted that Beijing "lets us down" by not buying US agricultural products "that they said they would do it". This may augur poor efforts to reach a trade deal, as US officials have said they expect China to buy crops as part of ongoing negotiations.
"I hope they're going to start soon!" Trump said.
Washington and Beijing have resumed trade talks in recent weeks after the failure of talks in May. As a developing agreement breaks down, Trump accuses China of giving up major commitments.
Stock market observers have closely followed the conflict between the United States and China. A protracted trade war could hurt not only US companies, but also the global economy.
After Chinese President Trump and Chinese President Xi Jinping met at the G-20 summit in Japan last month, the parties agreed to move negotiations forward and refrain from imposing new ones. prices. But the US president left the meeting hoping that China would buy US crops.
"We have tariffs, and they will buy agricultural products," he said at the time.
The increase in agricultural purchases serves more than a purpose to Trump. He has long insisted that the United States reduce its trade deficit with China. Trump is also looking to help farmers in major electoral states recently punished by floods, low prices for agricultural products and the trade dispute with the United States over Beijing.
Larry Kudlow, Trump's chief economic advisor, said on Tuesday that the White House found "very, very important" that China is buying agricultural products in the future of trade negotiations.
The United States has imposed tariffs of $ 250 billion on Chinese products. China has imposed duties on $ 110 billion worth of US products.
After the failure of the trade talks in May, Washington and Beijing have increased the rates of some of the existing tariffs.
WATCH: How the trade war affects the American pork industry
[ad_2]
Source link