Published: Sat, July 13, 2019
Markets | By Otis Pena

China ‘letting us down’ by not importing U.S. farm products: Donald Trump

China ‘letting us down’ by not importing U.S. farm products: Donald Trump

According to Reuters, ANZ analysts noted that Trump's comments about China's alleged failure to live up to its commitments on trade with the USA may not be a huge move compared to previous statements but the us president may be delivering a warning.

China saw its trade surplus widen by 41.6 percent year on year to 1.23 trillion yuan during the same period.

U.S. President Donald Trump took to Twitter Thursday to express his disappointment that China has not purchased agricultural products from the U.S.,. claiming they agreed to do so as part of their restarted trade negotiations.

Trump complained Thursday that China hasn't boosted its purchases of US farm products, a promise he claims he secured in a meeting with his counterpart Xi Jinping in June. However, it appeared as if he was taunting this possibility as he tweeted on Thursday that he is hoping for Beijing to "start soon" in purchasing American agriculture products.

Chinese imports of US goods fell 31.4% from a year earlier to $9.4 billion, while exports to the American market declined 7.8% to $39.3 billion, according to Chinese customs data.

U.S. Census Bureau. Trade in Goods with China.

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Envoys talked by phone Tuesday in their first contact since Trump and Xi met in Japan, the Chinese Commerce Ministry said.

Liang's complaint came a day after Trump accused Beijing of "letting us down" by not promptly buying more USA farm products.

China's slowing economy gives President Xi Jinping little room to fight back forcefully against the United States - which is using tariffs as leverage to try to force Beijing into opening up its economy. Export expanded 6.1 percent while import rose 1.4 percent, GAC data showed. Mistrust between Washington and Beijing runs high.

Trump did not specifically say he will re-escalate the trade war.

Trump's statement "highlighted how more speed bumps may remain in the road ahead", said Craig Orlam of OANDA in a report.

China slapped a 25 per cent tariff on U.S. soybeans last July as part of a trade war between the world's two largest economies, bringing imports of United States beans to a halt until the two countries agreed to a truce on last December.

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