Trump Pushing China to Remove Agriculture Tariffs
USAgNet - 03/04/2019
President Trump said Friday that he has asked China to remove its tariffs on U.S. agricultural exports as the two countries work on reaching a broader trade agreement addressing Beijing‘s trade practices.
According to Politico, Trump had been promising to ratchet up tariffs on billions worth of Chinese imports on March 1, but dropped the threat in a tweet on Sunday after he said talks has sufficiently progressed.
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“I have asked China to immediately remove all Tariffs on our agricultural products (including beef, pork, etc.) based on the fact that we are moving along nicely with Trade discussions,” Trump said in a series of tweets. “And I did not increase their
second traunch of Tariffs to 25% on March 1st. This is very important for our great farmers - and me!“
He said that a meeting with Chinese President Xi Jinping could happen later this month to finalize a deal to address U.S. allegations that Chinese industrial policies force U.S. companies to transfer technology to do business there. The administration
and companies have also accused China of steal intellectual property.
Access to one of the top export markets for U.S. farm goods has been a key aspect of the negotiations. China‘s retaliation against U.S. tariffs has hit American farmers of soybeans and other commodities.
The USDA's most recent forecast shows that the trade standoff between the two countries has severely hurt U.S. farm exports to China. Sales of U.S. soybeans and other farm commodities to China fell to $16.3 billion in fiscal 2018, from over $20
billion in fiscal 2017. They are forecast to decline even further — to $9 billion in the current fiscal year.