China buys ‘considerable’ amount of US pork, soybeans

Beijing said today it had bought a ‘considerable’ amount of US pork and soybeans. — Reuters pic
Beijing said today it had bought a ‘considerable’ amount of US pork and soybeans. — Reuters pic

BEIJING, Sept 26 — Beijing said today it had bought a “considerable” amount of US pork and soybeans, the latest sign of appeasement between the two sides in the year-long trade war.

The US and China have been locked in a bruising trade war for more than a year, with the world’s two biggest economies slapping tariffs on hundreds of billions of dollars in bilateral trade.

China is also facing a severe shortage of pork — a staple food in the country — because of an outbreak of African swine fever which has raced through its hog supply.

“Recently Chinese enterprises have ... started price inquiry and purchases of US agricultural products, and have also completed a transaction of soybeans and pork of considerable size with the US,” said commerce ministry spokesman Gao Feng at a regular press briefing.

Gao said “China’s market demand for high quality agricultural products is very large.”

Earlier in September, China said high-profile US agricultural products including pork and soybeans would be exempt from added tariffs, ahead of the next round of trade talks scheduled for October.

It marked the latest sign of easing tensions between the world’s two biggest economies.

The move followed an unexpected announcement from President Donald Trump that he would postpone an October 15 tariff increase on Chinese products representing US$250 billion (RM1.05 trillion) in annual imports. — AFP

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