China Offers Small Gesture in Repairing Trade Rift

(WASHINGTON, DC) USDA is confirming another Chinese purchase of U.S. soybeans this week. According to the Foreign Ag Service (FAS) at USDA, private exporters have reported sales of just under 1.2 million metric tons for delivery this marketing year. The purchase is the first significant move by China since the start of a trade dispute between the two countries earlier this year. The value of the purchases represents around $300 million, but only a small slice of the 35 million tons sold in the 2017/2018 marketing year, worth $12.25 billion. The U.S. and China agreed to a trade tariff ceasefire last month while both sides work towards a negotiated agreement. President Trump has a long list of complaints ranging from theft of intellectual property, monetary manipulation and egregious subsidies to Chinese farmers far beyond what they agreed to with the World Trade Organization (WTO).