U.S. official says China far short of soybean purchase pledge after small sale 5:11pm EDT [Reuters]
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Source: Reuters
U.S. official says China far short of soybean purchase pledge after small sale - Reuters 4 Min Read CHICAGO (Reuters) - China has purchased about only half the U.S. soybeans it pledged to buy earlier this year, a U.S. Department of Agriculture official said on Thursday, after a small sale was reported amid the two countries’ escalating trade war. U.S. President Donald Trump has vowed to impose new tariffs on Beijing starting in September, prompting China to say it had halted imports of all U.S. agricultural goods in a trade dispute that threatens growth in the world’s two largest economies. U.S. officials have said repeatedly they expect China to buy large quantities of soybeans as a gesture of goodwill while the two sides negotiate a trade deal. USDA Undersecretary for Trade Ted McKinney told Reuters that Beijing was a long way from doing that. “Very publicly in the Oval Office, they made commitments for 20 million metric tons of purchases, and only about 9 or 10 (million tonnes) hav
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