Wipe Tariffs On US Farm Goods, Trump Urges Beijing

"); jQuery("#212 h3").html("

Related News Programmes

"); });

2019-03-02 HKT 12:47

Share this story

facebook

  • About a third of US soybean production is exported to China. File photo: Shutterstock.

    About a third of US soybean production is exported to China. File photo: Shutterstock.

US President Donald Trump on Friday urged China to abolish tariffs on agricultural products imported from the United States -- adding that trade talks between the rival powers were going well.

"I have asked China to immediately remove all Tariffs on our agricultural products (including beef, pork, etc.)," the president wrote on Twitter.

He said his request was based on the fact that negotiations with China were "moving along nicely" -- and his delay last week of a planned tariff increase on Chinese exports.

"This is very important for our great farmers - and me!" he added.

After months of trade war, the US and China agreed to a 90-day truce to work out their differences. It was scheduled to end Friday, but Trump eventually lifted the ultimatum to increase tariffs, satisfied by progress made in several rounds of talks in Beijing and Washington.

Top White House economic official Larry Kudlow said on Thursday the two countries were on the brink of a "historic" trade agreement. A meeting between Trump and his counterpart, Xi Jinping, is also expected this month.

After the latest round of talks in February, US Agriculture Secretary Sonny Perdue tweeted that China had committed to buying "an additional" 10 million metric tons of soybeans as a "show of good faith."

US farmers rely greatly on such trade with China: in 2017, around a third of US soybean production -- worth US$14 billion -- was exported there, where it is used to feed pigs.

Those exports plummeted last summer, when China imposed tariffs on US soybeans and other agricultural products.

Previously, in a gesture of goodwill at the start of the countries' truce, China in December resumed soybean purchases.

But Chinese tariffs had already hit America's farming regions hard -- areas where Trump has enjoyed strong support. (AFP)

RECENT NEWS

US Stocks Rise On Hopes Of Pause In Rate Increases

Wall Street stocks finished solidly higher on Thursday, reflecting better sentiment on the US economy and a consensus vi... Read more

China's Financial Risks 'controllable': Regulators

The head of the National Financial Regulatory Administration on Thursday told a high-profile forum in Shanghai that the ... Read more

Banks Cut Yuan Deposit Rates, Could Boost Consumption

China's biggest banks on Thursday said they have lowered interest rates on yuan deposits, in actions that could ease pre... Read more

Cheese And Wine Put EU, Australia Deal In Peril

Australia on Thursday threatened to walk away from a blockbuster free trade deal with the European Union unless its prod... Read more

US Stocks End Mixed As Tech Shares Are Sold Off

Gains by industrial companies lifted the Dow on Wednesday, while weakness among technology shares pushed the Nasdaq deci... Read more

Amazon 'plans Prime Video Streaming Service With Ads'

Amazon.com is planning to launch an advertising-supported tier of its Prime Video streaming service, the Wall Street Jou... Read more