China will propose to increase purchases of U.S. ag goods in a bid to stave off tariff hikes between the two countries, according to the Financial Times. The proposal includes an offer to increase its annual soybean purchases from the U.S. to 30 million tonnes from a current 20 million tonnes.
China would also make "a raft of changes to non-tariff barriers" that have been a frustration point with USDA. The article quoted a source as saying China has "fundamentally agreed to all of the USDA's demands on beef, pork and lamb."
The source indicated China has agreed to make around 60 internal changes on their import process.
Chinese Vice Premier Liu He will be in Washington for talks with U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steve Mnuchin Thursday with the report saying that there would be a meeting Friday with President Donald Trump "if the discussions go well."
The paper said the trip will not be an "empty visit" as the Chinese are "ready to de-escalate."
Welcome
