China's pledge to buy U.S. farm goods based on 'market conditions"...
CHICAGO - China’s pledge to buy U.S. farm goods based on “market conditions” during the Phase 1 trade deal signing ceremony on Wednesday added to doubts among farmers and commodity traders over Beijing’s lingering tariffs on U.S. exports.
Chinese Vice Premier Liu He, standing beside Trump, said on Wednesday that Chinese firms will buy American products “based on market conditions.” Ted Seifried, chief strategist with brokerage Zaner Group in Chicago, said a lack of specific purchase contracts was also disappointing. The agreement did not reduce tariffs on major U.S. agricultural exports to China, though Trump said tariffs would come off in a Phase 2 agreement. Pork is subject to a 68% duty even as China needs more imports because of the devastating outbreak of a fatal pig disease.
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