U.S. Delegation to Meet Chinese Counterparts Next Week

(WASHINGTON, DC) Trade talks with China are moving closer to the finish line as U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steve Mnuchin plan to travel to Beijing next week. The latest round of face-to-face talks comes after weeks of conference calls between the two nations looking to find a path to normalized trade relations. According to news reports, any new deal is likely to include increased purchases of American goods from the Chinese, including farm and energy commodities. China appears ready to step up the purchases as a means to help reduce the U.S. trade deficit which hit a record $419 billion last year. China has stepped up purchases of U.S. pork, sorghum, and soybeans over the past two weeks. For pork purchases, the Chineses are buying from the U.S. despite import tariffs of 62 percent imposed on the product. Beijing is fighting the trade issue with the U.S. as the country also battles African Swine Fever that has led to more than one million head of hogs being culled. Just last week, China purchased 5.2 million bushels of soybeans and 2.5 million bushels of sorghum from American farmers.