China's soybean demand has been hit by swine flu, raising doubts about its trade promises
As the U.S. and China continue to negotiate a trade deal aimed at satisfying both sides, soybeans are emerging as a bargaining chip for Beijing to use as leverage in those talks.In addition to tariffs brought on by the ongoing trade dispute, falling import numbers and an outbreak of swine flu in China have added to concerns that the world's second largest economy may not be able to live up to its pledges to buy more.
"U.S. export figures had already raised doubts about whether China would buy the promised 10 million tons of soybeans in the US. These doubts have not been reduced by data from China," the bank's analysts added. China's pig herd fell 13 percent in January compared with the same month a year earlier, while the number of breeding sows was down 15 percent from the previous year, according to data from the Ministry of Agriculture and Rural Affairs.
In 2017, the U.S. exported $40 billion worth of grains and soybeans, of which China accounted for $15.5 billion, she noted.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
The US and China are reaching greater mutual understanding on trade, says ex-Beijing official'Within the last nine months, we had three rounds of consultations; I think we have more and more consensus about it,' said Jin Xu, a former senior commerce ministry official.
Lire la suite »
U.S.-China Trade Deal Isn’t Imminent So No Summit Date Set, Envoy SaysThe U.S. and China have yet to set a date for a summit to resolve their trade dispute, the U.S. ambassador to China said, as neither side feels an agreement is imminent.
Lire la suite »
Senior China diplomat urges U.S. to meet China halfwayThe Chinese government's top diplomat, State Councillor Wang Yi, said on Fr...
Lire la suite »
Senior China diplomat says China-U.S. trade talks have made substantive progressThe Chinese government's top diplomat, State Councillor Wang Yi, said on Fr...
Lire la suite »
China stocks rally to a 9-month high after Beijing promises trade secret protection for foreign companiesBeijing promised to prop up its economy and protect foreign companies' technology secrets in a bid to cool trade tensions with the US.
Lire la suite »
U.S.-China Trade Deal Isn’t Imminent, Ambassador SaysThe U.S. and China have yet to set a date for a summit to resolve their trade dispute, the U.S. ambassador to China said, as neither side feels an agreement is imminent.
Lire la suite »