In this file:

 

·         U.S. Reports Weekly Soybean, Pork Sales and Exports to China

·         Beijing Could Ax Extra Tariffs on US Farm Products to Boost Imports: China Trade Association Chief

 

 

U.S. Reports Weekly Soybean, Pork Sales and Exports to China

 

Reporting by Julie Ingwersen; Additional reporting by Mark Weinraub and Tom Polansek; Editing by Richard Chang, Reuters

via Successful Farming/Agriculture.com - 10/31/2019

 

CHICAGO, Oct 31 (Reuters) - China purchased 481,000 tonnes of U.S. soybeans in the week ended Oct. 24 and shipped more than half a million tonnes, the most since August, the U.S. Department of Agriculture reported on Thursday.

 

Purchases of U.S. agricultural products are seen as key to securing a deal to end a bilateral trade war between the United States and China that has lasted more than a year.

 

China also bought 1,900 tonnes of U.S. pork for 2019 delivery in the week ended Oct. 24 but canceled purchases of 4,200 tonnes of pork for 2020 delivery, the USDA said in its weekly export sales report.

 

Shipments of pork to China, including some purchased in other weeks, totaled 10,200 tonnes, in line with the pace of exports this month.

 

China has ramped up imports of pork as its domestic prices soar following outbreaks of African swine fever which has devastated the world's largest hog herd. It is buying U.S. pork even with a 72% tariff on imports.

 

U.S. President Donald Trump said earlier this month that China had pledged to spend between $40 billion and $50 billion on U.S. agricultural products annually as part of a deal to end a trade war that broke out last year.

 

That would be a large boost from the $24 billion China bought in 2017, before the trade war.

 

But the demand has become a major sticking point in the bilateral trade talks, as Beijing wants to buy based on market conditions instead of committing to a large figure and a specific time frame, according to several people briefed on the negotiations...

 

more 

https://www.agriculture.com/markets/newswire/us-reports-weekly-soybean-pork-sales-and-exports-to-china

 

 

Beijing Could Ax Extra Tariffs on US Farm Products to Boost Imports: China Trade Association Chief

 

By Keith Zhai and Hallie Gu, Reuters

via The Epoch Times - October 31, 2019

 

SINGAPORE/BEIJING—Beijing could remove extra tariffs imposed since last year on U.S. farm products to ease the way for importers to buy up to $50 billion worth, rather than direct them to buy specific amounts, the head of a government-backed trade association said.

 

U.S. President Donald Trump said earlier this month that China had pledged to spend between $40 billion and $50 billion on U.S. agricultural products annually as part of a deal to end a trade war that broke out last year.

 

But the demand has become a major sticking point in the bilateral trade talks, as Beijing wants to buy based on market conditions instead of committing to a large figure and a specific time frame.

 

“What the government can do is to remove the extra tariffs, both sides need to do this. Then let the companies make the purchases based on their own will, and based on market rules,” Cao Derong, President of the China Chamber of Commerce for Import and Export of Foodstuffs, Native Produce and Animal By-Products (CFNA) told Reuters in an interview late on Oct. 30.

 

Beijing slapped additional 25 percent tariffs on a list of U.S. products including soybeans and other grains in July last year in response to tariffs Washington imposed on Chinese goods worth a similar value. China hiked some tariffs again in September this year.

 

CFNA, under the supervision of China’s Ministry of Commerce, is an influential trade association with members including top crusher Yihai Kerry, state-owned Sinograin, and branches in China of leading international trading houses like Cargill and Louis Dreyfus.

 

Cao added that this would create conditions for a “convenient” and “good” trade environment, rather than obliging firms to buy a certain amount of product during a certain period of time.

 

“After the tariffs are removed, the trade goes back to normal. Then how much the firms would buy depends on the market,”  Cao said on the sideline of a Singapore forum led by China Center For International Economic Exchange.

 

While China can step up purchases based on market conditions, the $40-$50 billion target is “very high,” he added, and can’t be guaranteed.

 

The target sought by Trump is up to double the $24 billion China spent on American farm goods in 2017.

 

Analysts have also said Beijing would not be able to reach the target without removing substantial technical barriers.

 

Beijing has already stepped up buying of American soybeans and offered waivers to more importers to buy U.S. oilseed exempt of the extra tariffs, Cao added...

 

more

https://www.theepochtimes.com/beijing-could-ax-extra-tariffs-on-us-farm-products-to-boost-imports-china-trade-association-chief_3133370.html