China says US farm purchases hinge on tariff-cut deal Reuters
China says US farm purchases hinge on tariff-cut deal - Reuters
In short
Beijing has clarified its terms regarding the resumption of major trade flows with the United States. Officials announced that agreements to purchase American farm goods remain strictly tied to reductions in prevailing tariffs. Without mutual concessions on duties, additional commitments on agricultural volume will not move forward.
Key points
- Agricultural trade commitments remain contingent upon the formal lowering of bilateral ta…: Agricultural trade commitments remain contingent upon the formal lowering of bilateral tariff rates.
- Future purchases of United States produce will not proceed without duty cut agreements.: Future purchases of United States produce will not proceed without duty cut agreements.
- Cross-border trade relief remains the prerequisite for any major Chinese agricultural buy…: Cross-border trade relief remains the prerequisite for any major Chinese agricultural buying.