A U.S.-China trade deal appeared elusive on Friday after Chinese officials unexp...
CHICAGO - A U.S.-China trade deal appeared elusive on Friday after Chinese officials unexpectedly canceled a visit to farms in Montana and Nebraska amid two days of ongoing talks in Washington.
The cancellations come after the United States lifted tariffs overnight on over 400 Chinese products. Grain and soybean futures on the Chicago Board of Trade and livestock futures on the Chicago Mercantile Exchange also slumped as hopes faded that China would accelerate purchases of U.S. farm goods such as soybeans and pork. China is the world’s largest pork market and the largest importer of soybeans.
The Trump administration and China’s Communist Party remain far apart on issues that are the basis of their trade dispute, including the U.S. declaring some Chinese state companies national security risks, and Beijing’s refusal to revamp its economic model by eliminating subsidies for state companies.
A delegation of about 30 Chinese officials, led by Vice Finance Minister Liao Min, met counterparts at the U.S. Trade Representative’s office near the White House. Deputy USTR Jeffrey Gerrish led the U.S. delegation.
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