Published: Mon, March 04, 2019

Donald Trump asks China to lift all USA agricultural tariffs

Donald Trump asks China to lift all USA agricultural tariffs

While the trade war has so far had minimal impact on the Philippines, it is bound to affect us if it lasts much longer, as the United States and China are today the world's two biggest economies and they are among the Philippines' top trade partners.

While a rise in import duties on Chinese goods from 10% to 25% was due to come into effect on 1 March, the U.S. is now planning a summit with Chinese President Xi Jinping at Mr Trump's Mar-a-Lago resort in Florida.

Donald Trump, the President of the United States of America, said that he had requested China to remove all the tariffs imposed on USA agricultural products immediately since the trade negotiations were progressing well. Beijing placed tariffs on USA soybeans, port and other items past year, which has dramatically reduced the amount American farmers send to the country. Trump stated today that he is planning on having summit level talks with Chinese President Xi Jinping at Florida and will cement a viable trade deal if effective progress is made.

"I am always prepared to walk", he said.

President Donald Trump asked China in a tweet Friday to lift all of its tariffs on American agricultural products, pointing to his decision to delay a second round of tariffs and to improving trade relations with China. China is a key destination for most of the world's biggest agriculture markets.

China has already made some good-faith purchases of American soybeans after declaring a trade truce with the December.

"The markets are a little exhausted of some of the ups and downs and the eight or 12-hour news cycle of tweets", Greg Grow, the director of agribusiness at Archer Financial Services in Chicago, said in a telephone interview Friday.

A White House economic official, Larry Kudlow, said on Thursday the two countries were on the brink of a "historic" trade agreement.

His optimism came just a day after Trump's top trade negotiator struck a more cautious tone.

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