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∑ China Keeps Deals Coming to Sustain Trump's Focus on Trade Talks
∑ Chinese, US Enterprises Sign Agricultural Transaction Contracts
China Keeps Deals Coming to Sustain Trump's Focus on Trade Talks
Soy agreement is latest China-U.S. agreement in 100-day round
Comprehensive Economic Dialogue starts Wednesday in Washington
July 14, 2017
As 100 days of trade talks between the two largest economies rumble to a close, Chinese officials and executives have been roaming the farmland of Iowa and doing what might appeal to U.S. President Donald Trump most: deals.
Contracts signed Thursday -- for the import of 12.5 million tons of U.S. soybeans and 371 tons of pork and beef -- can be seen as another result of the renewed economic-diplomacy push started by Trump and Chinese President Xi Jinping at their April meeting in Florida.
Talks are yielding progress: China is buying American beef again after a 14-year ban, approving more biotech products, and increasing U.S. natural gas imports. But if the nations are to make any meaningful dent in the $347 billion U.S. deficit thatís the object of Trumpís ire, they may have to keep negotiating beyond the modest agreements already signed.
"Deals such as the soybeans definitely create favorable conditions for negotiations," said Gai Xinzhe, an analyst at Bank of Chinaís Institute of International Finance in Beijing. "Trump is a businessman and loves making deals. These will give Trump something he can announce at home. But ultimately itíll take a very long time to resolve the trade imbalance."
The two nations have been working on "very major trade components," Trump said at a press conference in Paris this week. But there still may be hiccups in the relationship: he has threatened tariffs or quotas on steel imports, which may hurt China and other nations.
Chinese officials have indicated the 100-day talks will be extended to stretch over a year. Meanwhile, the Comprehensive Economic Dialogue, led by Chinese Vice Premier Wang Yang, U.S. Treasury Secretary Steven Mnuchin, and Commerce Secretary Wilbur Ross, will kick off its first round on July 19...
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Chinese, US Enterprises Sign Agricultural Transaction Contracts
The Pig Site
17 July 2017
US & CHINA - Some 20-odd Chinese and US enterprises on Thursday signed agricultural transaction contracts worth $5.012 billion, under which Chinese enterprises will import 12.53 million metric tons of soybean and 371 tons of pork and beef from the US companies.
Nearly 100 officials and enterprise representatives from China and the United States attended the signing ceremony held in Des Moines, Iowa.
Addressing the ceremony, Counselor for Science and Technology with Chinese Consulate in Chicago Xu Hai said Chinese and US presidents have agreed in their first meeting in April this year to carry out the "the 100-Day Action Plan" under the framework of the US-China Comprehensive Economic Dialogue (CED), this activity (contract signing) "can be taken as one of the concrete measures that materialize the presidential meeting between the two countries."
As urbanization further progresses and the population of the middle class further expands in China, China's consumption market scale will keep enlarging. "There are still huge growth potentials for US exports to China in the future," Mr Xu added.
Adam Gregg, lieutenant governor of Iowa, feels excited about the partnership Iowa has developed with China. "With the opening of China for US beef, that is a very exciting development for the state of Iowa and for our cattle farmers here," Gregg told Xinhua.
Mr Gregg said, "Governor Reynolds will be in China leading an all-agricultural trade delegation."
China Chamber of Commerce of Import and Export of Foodstuffs, Native Produce and Animal By-Products (CCCFNA) has organized this event in cooperation with US Soybean Export Council. CCCFNA President Bian Zhenhu is confident of Sino-US cooperation in agricultural products...