The American Farm Bureau Federation says this week’s trade talks between the U.S. and China are making progress. So far, China has resumed soybean purchases, agreed to cut punitive tariffs on U.S.-made cars, promised to open its markets for more foreign investment, and drafted a law to prevent forced technology transfers. AFBF trade adviser Dave Salmonsen said the key for the U.S. is enforcement of China’s commitments.
“And that’s the real question here, will this be a short-term answer, China will agree to buy some more. The tariffs will go off or be reduced, or whatever they do with that. But will they sit down and actually build the structure to deal with the long-term issues of forced technology transfer and intellectual property protection.”
U.S. negotiators want China to give specific dates for making purchases, and assurances that Beijing won’t hinder U.S. companies from doing business in China. Both sides are optimistic and driven by mounting trade damage from their tariff war, now paused until a March 1st deadline.
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