U.S. President Donald Trump's demand that Beijing commit to big purchases o...
WASHINGTON/BEIJING - U.S. President Donald Trump’s demand that Beijing commit to big purchases of American farm products has become a major sticking point in talks to end the Sino-U.S. trade war, according to several people briefed on the negotiations.
U.S. officials continue to push for that in talks, while Beijing is balking at committing to a large figure and a specific time frame. Chinese buyers would like the discretion to buy based on market conditions. Oversupply of agricultural products in China would hit local prices really hard, he said, “and break the supply-demand balance.”
That contradicts a core demand the United States is making of China in the current trade war, and a U.S. policy goal for decades: that China become a more market-based economy and stop subsidizing state companies and favoring local firms at the expense of foreign competitors.“The U.S. government doesn’t normally regulate the pricing or timing of ag exports — a private sector role — but in this case the president has already taken this step,” said Miriam Sapiro, former acting U.S.
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