President Trump and China’s President Xi could meet later this month to finalize a historic trade deal between world’s two biggest economies, ending a months-long trade war that’s hobbled Ag and other sectors. The two leaders are anxious to end their trade war for economic and political reasons and avert another tariff showdown in March. Negotiators have less than a month to settle outstanding issues, including China’s forcing foreign firms to hand over their technology in order to do business in China. American Farm Bureau Trade Adviser Dave Salmonsen said negotiations this week made some progress, but not enough.
“These negotiations, at the level they’re being taken care of, they advance the issues, but they don’t solve, or come to a final agreement. I think that will have to wait until the principals meet, President Trump and President Xi, if there is going to be any kind of a final agreement or final deal; or, is this a set-up for future talks.”
President Trump suggested talks could run past his March deadline to boost tariffs on Chinese goods. Salmonsen said, in the meantime, China could continue to ‘sweeten the pot’.
“If in the meantime, we can get some more purchases, we can roll back some of the tariffs, we can get to a better, a more normal, what we were used to having, considering a normal trade environment with China, but still talk about these other issues, and some advancements, that’s all to the good,” Salmonsen added.
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