China and the US Negotiate to Postpone the Tariffs Scheduled for December 15
The trade delegations of the United States and China are negotiating the bases that would delay the entry into force of the new tariffs on products of the Asian giant, whose implementation is scheduled for December 15.
US President Trump revealed that the United States and China are making good progress in finalizing their trade agreement. However, the US Secretary of Agriculture said that President Trump did not want to implement the next round of scheduled tariffs on Chinese exports to the United States on December 15.
U.S. President Trump said on Monday that the United States and China are making good progress in finalizing a trade agreement as the time for a new round of tariffs on Chinese imports is approaching.
The United States plans to impose tariffs on a variety of Chinese consumer products, including mobile phones and toys, on December 15. But the two countries are expected to reach an agreement to delay or cancel these tariffs.
According to US Secretary of Agriculture Sonny Perdue on Monday, President Trump does not want to implement the next round of scheduled tariffs on Chinese exports to the United States on December 15, but hopes that China will take “action” to avoid tariffs.
The trade war between China and the United States has been going on for 17 months, disrupting global food trade, turbulent markets, and dragging global economic growth.
According to US Secretary of Agriculture Purdue, “I don’t think the president wants to implement these new tariffs, but they (China) need to take some action to give him (Trump) a reason not to implement them,” Purdue in Indianapolis “I hope China’s tariff exemption on some soybeans and pork will be such a signal,” said the National Grain and Feed Association (NGFA) conference.
The report said that China is the world’s largest buyer of soybeans. Assistant Chinese Minister of Commerce Ren Hongbin said on Monday that he hopes that China and the United States will advance negotiations and consultations based on the principle of equality, mutual benefit and mutual respect, taking into account each other’s core concerns and achieving satisfactory results as soon as possible; China will further reduce tariffs in due course And institutional costs to stimulate and release import potential.
U.S. exporters said that Chinese importers on Monday bought at least five U.S. soybean shipments to be shipped in January and February, at about 300,000 tons. Earlier, Beijing carried out the exclusion of some soybeans, pork and other commodities, and granted tariff exemptions to the products within the scope of the exclusion, involving a scale of at least 1 million tons.
The local analyst, Lu Xiang, quoted by the Chinese newspaper, warns that the implementation of the additional 15% tariff on Chinese products worth about 160,000 million dollars (144,410 million euros) would have an impact similar to that of “a disaster natural”. “If there are tariffs on Sunday, it would mean that the negotiations have collapsed,” Lu added, for whom the final decision is in Trump’s hands, although he emphasizes that “China is prepared for the worst scenario.”