In this file:
· China hopes for positive results from talks with U.S. at G20
· China buys U.S. pork
· Trade war with US testing reach of 'One Belt One Road,' China self-sufficiency
· President Trump Urged to Use G20 to End Trade War
China hopes for positive results from talks with U.S. at G20
Reporting by Yawen Chen and Ryan Woo, Susan Heavey in Washington; Editing by Robert Birsel and Bernadette Baum, Reuters
November 29, 2018
BEIJING (Reuters) - China is hoping for “positive results” in resolving a trade dispute with the United States at a G20 summit in Argentina, the commerce ministry said on Thursday, ahead of a closely watched meeting of Chinese and U.S. leaders.
U.S. President Donald Trump and Chinese President Xi Jinping are due to hold trade discussions on the sidelines of the G20 summit in Buenos Aires on Saturday.
Asked if China was seeking to prevent the imposition of additional U.S. tariffs at the high-stakes meeting, the ministry’s spokesman, Gao Feng, said economic teams from both nations were in contact to implement a “consensus” reached by Trump and Xi during a phone call this month.
“I hope that the United States and China could move towards each other and work hard to achieve positive results in the meeting,” Gao said, without giving any details.
The United States has levied additional duties of between 10 percent and 25 percent on $250 billion of Chinese goods this year as punishment for what it calls China’s unfair trade practices, with the 10 percent tariffs set to climb to 25 percent next year.
A Reuters poll on Wednesday showed China’s factories likely struggled to grow for a second straight month in November as cooling demand at home and the threat of higher U.S. tariffs stifled new orders.
“The Chinese side has repeatedly stressed that the essence of Sino-U.S. economic and trade cooperation is about mutual benefit and win-win,” Gao said.
White House officials said this week Trump was open to making a trade deal with Xi when they meet...
China buys U.S. pork
Farm Commodity Newsletter/Iowa Farmer Today
Thu 11/29/2018 9:11 AM
USDA reported “very large” weekly pork export sales, with Mexico the largest buyer, noted Dennis Smith of Archer Financial Services. “And guess what, China was in for 3,300 MT of U.S. pork last week. This alone should put a positive spin on futures today.” USDA’s report also showed China bought 9,400 MT of pork last week for 2019.
The cattle market “could struggle to absorb the hefty total meat supply short-term, but supply is about to peak; China may be a more active buyer of pork and beef next year (especially if there is progress for a deal on Saturday); and the demand tone remains strong,” The Hightower Report said. Analysts there…
Trade war with US testing reach of 'One Belt One Road,' China self-sufficiency
The Mainichi (Japan)
November 29, 2018
BUENOS AIRES/BEIJING -- U.S. President Donald Trump and Chinese President Xi Jinping are set to meet on the sidelines of the Group of 20 leaders' summit beginning on Nov. 30, the first such talks since the trade war between the two countries flared.
However, it is unclear whether a "ceasefire" in the escalating conflict can be reached. Meanwhile, the impact of adjusting to the tariffs Beijing has slapped on U.S. imports, imposed in retaliation for Washington's punitive levees on Chinese products, is starting to spread within China, and the country is preparing for what looks to be a long battle.
"When I heard that the price of pork would probably rise due to the trade war, I really started to worry," said 38-year-old businesswoman Qing Jia, her expression clouding. She had just bought 500 grams of pork ribs for 18 yuan (roughly 300 yen) at Sanyuanli Market , the "kitchen of Beijing." Her husband and junior high school-age son will eat any dish if its pork, she explained. In China, pork is the meat of choice, and while the cost has yet to rise, Beijing residents are sensitive to price changes.
Roughly one hour from Beijing by car in Sanyuan, Hebei province, pig farmer Li Jianmin, 54, lamented, "The more pigs I raise, the more I fall into the red."
Each year, Li ships some 2,000 pigs, but the price of the soybean cake for their feed has risen 20 to 30 percent over the last year. The cost to feed one pig has risen by roughly 100 yuan, or 1,600 yen, on average, pushing his operation below the break-even point.
China is the world's largest consumer of soybeans. Oil from the beans is made for human consumption, and the remains are used as animal feed. Over 80 percent of the beans are grown abroad. Last year, China imported 95.54 million metric tons of the beans, 53.3 percent of that from Brazil and another 34.4 percent from the U.S.
However, Beijing leveled a 25 percent tariff on American soybean imports in retaliation against U.S. tariffs. The attack was aimed at Trump's support base among farmers, but it has been a double-edged sword. Now, China is planning out how to raise domestic soybean production.
After the Trump administration announced its third round of tariffs against China...
President Trump Urged to Use G20 to End Trade War
Brian Kuehl - Farmers for Free Trade
Farmscape for November 29, 2018
U.S. President Donald Trump is being encouraged to use the meeting of the G20 to resolve the global trade war.
In a letter to the White House, Americans for Free Trade has urged President Trump to use the G20 meeting to end the trade war ahead of tariff increases due to take effect New Year's Day.
Brian Kuehl, the Executive Director of Farmers for Free Trade, says all nations are being hurt by what has escalated into a global trade war.
Clip-Brian Kuehl-Farmers for Free Trade:
The parties that win in a trade war are the parties that are not in the trade war.
As the U.S. and China bash each other other countries around the world have opportunities so Brazil is positioned to sell soybeans to China as China stops buying U.S. soybeans and Australia is positioned to sell beef to China as China stops buying beef.
Conversely Cambodia is in a position to sell electronics to the U.S. as the U.S. stops buying Chinese electronics so it's the other countries that are not in the trade war that tend to win.
The U.S. is also in a trade war with Canada.
We've put tariffs on inbound steel and aluminum.
Canada has retaliated by putting tariffs on processed foods among other products coming into Canada.
Everybody is getting hurt in this trade war.
Canada is getting hurt, the U.S. is getting hurt so the G20 is really critical.
We'd like to see the United States and China move forward to deescalating the trade war.
It doesn't mean that we shouldn't address these issues around intellectual property.
China is clearly being a bad actor on a lot of fronts but we shouldn't cut off our nose to spite our face.
We shouldn't have tariffs placed on all manner of products, billions of dollars in drag on the economy while we try to resolve this dispute.
Let's try to resolve the dispute using trade mechanisms through the WTO and other mechanisms and let's work together as a coalition to convince China that they need to change their behavior.