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Chick-News.com Poultry Industry News, Comments and more by Simon M. Shane

Outcome of G-20 Meeting Between China and the U.S.

12/02/2018

There is now some optimism concerning the future of bilateral tade between the U.S. and China following the Saturday December 1st dinner meeting  during the G20 Summit between the delegations from the U.S. and China led by their respective Presidents. The U.S. has agreed to a three-month delay in raising tariffs from ten percent to twenty-five percent on over $200 billion in annual imports from China. In return China has agreed to purchase a not yet specified increase in agricultural commodities, energy and heavy equipment from the U.S. to offset the negative balance of payments.

 

Negotiations will resume to resolve the major structural issues impacting trade and the concerns raised by the U.S. concerning coercive practices, barriers to entry of U.S. businesses, cyber-espionage and theft of intellectual property.

 

Larry Kudlow, head of the Economic Advisory Council characterized the discussion between the Presidents as “it went very well” Wang Yi the lead diplomat for China stated “The two Presidents agreed that the two sides can and must get bilateral negotiations right” He added “Discussions on economic and trade issues was very positive and constructive.

 

 On his return to the U.S. the President stated “It’ll have an incredibly positive impact on farming, meaning agriculture, industrial products, computer, every type of product”.


 
Copyright 2018 Simon M. Shane