Published 9 hours ago • loading... • Updated 2 hours ago
China ties more US farm imports to reciprocal tariff cuts
Beijing said tariff cuts must be finalized first, as China has bought only $7.2 billion in other U.S. farm goods this year, Reuters analysis found.
On Thursday, China's Commerce Ministry stated it remains open to increasing United States agricultural purchases, provided both nations finalize and implement reciprocal tariff cuts on $60 billion worth of goods.
Following a September summit in Washington, Presidents Xi Jinping and Donald Trump proposed the $60 billion reciprocal tariff cut package to stabilize bilateral trade relations.
China purchased only $7.2 billion of non-soy United States agricultural products between January and September, according to Reuters analysis; the pace falls short of annual targets.
Uncertainty persists over when the $17 billion non-soy purchase timeline begins, as The White House has not clarified whether it started with May's announcement or upon tariff finalization.
Commerce Ministry spokesperson Huang Ling stated during a briefing that China hopes the United States can work together to "create favourable conditions" for agricultural trade between the two countries.
China is willing to increase the purchase of US agricultural products, making this conditional on the implementation of the tariff pact.The bilateral agreement seeks to remove barriers and facilitate trade, benefiting consumers and producers from both nations.