IARN — The U.S. and China have postponed a review of the Phase One trade deal as China continues to buy large amounts of U.S. farm commodities. The two sides were set to meet over the weekend, but the delay allows China more time to buy U.S. crops. However, the postponement arose over scheduling conflict.
Saturday marked the six-month anniversary of the trade pact entering into force. President Donald Trump told reporters last week that the trade deal was “doing very well,” without adding specifics. Recently, China has ramped up purchases, including a record purchase of sorghum last week of 32 million bushels. That sale topped the previous record set in 2014 of 23 million bushels purchased in one week. Further, the Department of Agriculture reports China purchased 126,000 metric tons of soybeans last week. However, trade experts say China is still behind the pace needed to meet levels of commodity purchases promised in the trade deal.
Story courtesy of the Iowa Agribusiness Radio Network.
