World News

Chinese buyers asking about USA soy, pork before trade talks

Chinese buyers asking about USA soy, pork before trade talks

On Wednesday, Trump wrote in a post on Twitter that the United States had agreed to delay increasing tariffs on $250 billion U.S. worth of Chinese imports from October 1 to October 15 "as a gesture of good will".

Last month, the United States said it would increase the tariff rates on all Chinese goods, which included raising a 25% tax on $250bn of Chinese imports to 30%.

"It should be seen as a goodwill gesture the USA side made for creating good vibes for the trade talks scheduled in early October", said Hu, who is believed to have sources high in the Chinese government.

It said Beijing had been sounding a more "constructive" note in recent weeks over trade relations.

The moves signal an easing of tensions between the two economic superpowers ahead of a much-anticipated meeting of top-level negotiators next month. "But I would let the Chinese know that we need to hammer out a deal".

Trump said he hoped to reach a trade agreement with China following more than a year of tit-for-tat exchanges of tariffs that have roiled global markets. US stocks, highly sensitive to the ups and downs of the negotiations, rose in early trading before giving up most of the gains by late morning.

USA soybean exports to China, the world's top buyer, have plummeted during the bitter bilateral dispute, with swelling supplies sending prices to near-decade lows and US farmers struggling to turn a profit. Neither side has specified a date for the meetings.

Analysts noted that the list of exemptions did not include soybeans or pork, two major US exports.

More news: Labour deputy leader calls for second referendum before general election

Trump forged a new trade deal with Canada and Mexico previous year, aptly named the U.S. -Mexico-Canada Agreement, that included new key provisions governing the auto and dairy industries.

The slight reprieve may be little comfort to American businesses that have had to struggle with trade uncertainties.

U.S. President Donald Trump, right, and Chinese President Xi Jinping have been locked in a protracted trade war.

In the US, factory activity unexpectedly contracted in August for the first time in three years, underscoring how slowing global growth and an escalating USA trade war with China are taking an even bigger toll on domestic producers.

ING's Pang noted the United States had also exempted imports of 110 Chinese products from tariffs in July, including high-value items such as medical equipment and parts.

The Trump administration has sought to compel the Chinese regime to make changes to address a range of unfair trade practices, including intellectual property theft, forced transfer of technology to Chinese firms, industrial subsidies, and market access.

Trump has imposed or announced penalties on about $550 billion of Chinese products, or nearly everything the United States buys from China.


  • Robert Mugabe to be buried next week in his village: Family

    Robert Mugabe to be buried next week in his village: Family

    Education Minister Paul Mavhima says there is no doubt Mr Mugabe should be buried as a national hero. Some family members are still bitter over his ouster , and the role his former ally Mnangagwa played.
    OPEC Lowers Growth Forecast of World Oil Demand

    OPEC Lowers Growth Forecast of World Oil Demand

    Despite the OPEC-led cut, oil has tumbled from April's 2019 peak above $75, pressured by trade concerns and an economic slowdown. The ongoing trade dispute also made it hard for US shale shipments to find markets in recent months, the IEA said.
    Samsung Galaxy Fold: hundreds of apps supported at launch, thanks to Google

    Samsung Galaxy Fold: hundreds of apps supported at launch, thanks to Google

    Samsung today confirmed a few popular apps that will be available from the Google Play Store when the Galaxy Fold goes on sale. Samsung highlights features like App Continuity and Multi-Active Window that arose out of its collaboration with Google.
  • US Supreme Court backs Trump on asylum crackdown

    US Supreme Court backs Trump on asylum crackdown

    Curbing migration to the U.S. has been a key goal of his presidency and forms a major part of his bid for re-election in 2020. Border Patrol to seek asylum following an illegal crossing of the Rio Grande in Hidalgo, Texas, on August 23, 2019.
    US Open: Canada toasts 'Queen B' Andreescu after major triumph

    US Open: Canada toasts 'Queen B' Andreescu after major triumph

    Williams meanwhile was in a reflective mood afterwards and felt she didn't properly show up when she needed to. World number 15 Bianca had beaten number 12 Swiss player Belinda Bencic 7-6, (7-3), 7-5 in the semi-finals.
    Man charged with doing 'doughnuts' at Donald Trump's golf course

    Man charged with doing 'doughnuts' at Donald Trump's golf course

    He posted $5,000 bond for the charges of breaking and entering a home without the owner's consent and willful trespassing. The Westerly Sun newspaper in Rhode Island said that McEwan hopped a fence and broke a glass door to enter Swift's home.
  • These dudes already have the Pixel 4

    These dudes already have the Pixel 4

    The video , posted to YouTube by ReLab on Thursday, purports to show gaming tests on a demo version of the upcoming phone . We did hear of an earlier leak suggesting a potential October 4 date, but that just didn't seem convincing enough.
    Oil hits 6-week high on hopes of extended OPEC output cuts

    Oil hits 6-week high on hopes of extended OPEC output cuts

    Defending oil prices, or at least working to keep them from plummeting, is a key task for Saudi Arabia's energy minister. Enter Al-Falih's deputy, an urbane OPEC veteran who'd worked with Iranian Oil Minister Bijan Zanganeh for decades.
    Slight majority for Irish reunification in Northern Ireland, poll claims

    Slight majority for Irish reunification in Northern Ireland, poll claims

    Government spokesman told Channel 4 News: "Government regularly commissions work to examine the feasibility of projects". Just over half of people in Northern Ireland would vote for Irish unification, according to a new survey.
  • Multiple People Wounded in 'Massive Stabbing' at Industrial Park

    Multiple People Wounded in 'Massive Stabbing' at Industrial Park

    According to the police, the stabbing took place at a Dyke Industries, Inc. dealership in the city's industrial district. It provides residential and commercial building materials including interior and exterior doors, millwork, and windows.
    What time is the third Democratic presidential debate? Lineup, channel and more

    What time is the third Democratic presidential debate? Lineup, channel and more

    There are now less than five months to go before the first votes are cast in the Democratic presidential nominating contest. Candidates will be given one minute and 15 seconds to answer questions and 45 seconds for responses and rebuttals.
    Explosion hits US Embassy in Kabul on 9/11 anniversary

    Explosion hits US Embassy in Kabul on 9/11 anniversary

    India supports direct talks between the elected Afghan leadership and the Taliban to end the violence there, he said. Pompeo said the United States won't release the pressure until the Taliban is serious about peace.