Trump's hailing of US$50b in Chinese farm purchases seen as 'meaningless'

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BEIJING (REUTERS) - China is still a long way from forking out US$50 billion (S$68 billion) for farm goods from the United States, agriculture industry analysts said on Monday (Oct 14), cautioning that getting there is contingent on removing substantial technical and political hurdles.. Read more at straitstimes.com.

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BEIJING - China is still a long way from forking out US$50 billion for farm goods from the United States, agriculture industry analysts said on Monday , cautioning that getting there is contingent on removing substantial technical and political hurdles.

Boosting purchases so substantially will depend on further progress on other, more thorny, issues still to be dealt with in the talks, said Friedrichs and others. Soybeans made up more than half of China's agriculture purchases from the United States in 2017, at about US$13 billion. Imports of other products, ranging from corn to pork and beef, have always been much smaller than soybean sales, impacted by what the United States refers to as non-tariff barriers.

Other China-based market watchers were cautious about expecting any notable increase in purchases beyond soybeans until a broader trade deal is finalised.

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