09:53 GMT +314 November 2019
Listen Live
    U.S. President Donald Trump speaks during signing ceremony for the U.S.-Japan Trade Agreement at White House in Washington

    Trump Says Beijing Making 'Agricultural Purchases' Under 'Phase One' of US-China Deal

    © REUTERS / Kevin Lamarque
    Get short URL

    China's Commerce Ministry said earlier that negotiators from Beijing and Washington have achieved significant progress in various areas during the latest round of bilateral high-level trade talks in DC.

    US President Donald Trump said in a series of tweets on Sunday that the 25 percent tariffs on Chinese goods would remain in place, noting, however, that "the relationship with China is very good".

    Trump also commended in a follow-up tweet that Beijing had "ALREADY BEGUN AGRICULTURAL PURCHASES", referring to a much-anticipated trade China-US trade deal.

    Trump said that Beijing and Washington had reached the first phase of a trade deal, having agreed on currency exchange, technology transfer, intellectual property, financial services and the purchase of up to $50 billion worth of US agricultural goods by China.

    The high-level trade talks were held ahead of Washington’s planned increase of trade tariffs on $250 billion worth of Chinese goods from 25 percent to 30 percent starting 15 October.

    However, on Friday, US Treasury Secretary Steve Mnuchin said Washington will not raise tariffs next week.

    A trade row between the world’s two largest economies erupted in June 2018 when the United States imposed the first round of tariffs on Chinese exports, prompting Beijing to respond in kind. Since that time, the two countries have exchanged tit-for-tat moves in a full-blown trade war but have also continued to negotiate to resolve their commerce-related differences.


    Italian Farmers Confederation Asks Conte to Discuss US Tariffs With EU, Avoid Trade War
    China’s Gold Bullion Scales Upwards for 10th Straight Month Amid US Trade War Limbo
    Why Has Scottish Whisky Industry Found Itself Caught in the Middle of a Trade War Between EU and US?
    Italian Prime Minister Conte Calls to Avoid US-EU Trade War
    trade war, agriculture, Trade, deal, Washington, Beijing, China, US
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik