Beijing sees farm purchases sought by Trump as a big leverage in trade negotiations and is pushing Washington to drop more tariffs
Beijing is pushing the U.S. to drop plans to impose new 15% tariffs on $156 billion in consumer goods starting Dec. 15 and could use the farm purchases as leverage.Beijing is pushing the U.S. to drop plans to impose new 15% tariffs on $156 billion in consumer goods starting Dec. 15 and could use the farm purchases as leverage.
SHARE YOUR THOUGHTS What are the best- and worst-case scenarios in China promising to buy more U.S. farm products? Join the conversation below. Analysts say China could attach conditions to a written pact that would allow it to buy less than the U.S. expects, such as by stretching out the time frame for purchases. China could also insist on language saying that prices for U.S. goods must be reasonable and that Chinese purchases comply with the rules of the World Trade Organization, which bans managed trade.
Chinese negotiators led by Vice Premier Liu He argue that the U.S., by asking Chinese firms to buy more than they need, is forcing Beijing to direct state-owned enterprises, such as Cofco Corp., to buy. Such a demand essentially amounts to asking Beijing to engage in managed trade, Chinese officials say, a practice many in Washington have assailed as part of China’s state-led economic model.
Advertisement Beijing has incentives to import more pork to keep pace with domestic demand and keep inflation at bay. African swine fever has decimated the Chinese pig population, sending pork prices up 69% in September compared with a year earlier.
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