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From United Press International
Jan. 31 (UPI) -- The United States and China came to an agreement on the sale of soybeans Thursday, as both sides seek to reach a deal before increased tariffs take effect.
Trump announced that China agreed to purchase 5 million tons of U.S. soybeans after holding two days of discussions with a Chinese delegation including Vice Premier Liu He. They planned to set up another meeting between Trump and Chinese President Xi Jinping in the future.
"We've made tremendous progress," Trump said of the negotiations.
COMMENT:-
Mr. Trump deserves credit for getting back between one third and one half of the normal volume of soybean sales that had been lost, but, since it appears that the sale price is still below cost of production, I'll hold off unreserved congratulations until it is clearer whether the US is going to make a profit or simply lose less.
PS - If you read between the lines, this sale looks suspiciously like "tiding China over until the alternative (non-America) sources come on line" - but, I always was a cynic.
U.S., China reach soybean deal; no plan to extend tariff deadline
Jan. 31 (UPI) -- The United States and China came to an agreement on the sale of soybeans Thursday, as both sides seek to reach a deal before increased tariffs take effect.
Trump announced that China agreed to purchase 5 million tons of U.S. soybeans after holding two days of discussions with a Chinese delegation including Vice Premier Liu He. They planned to set up another meeting between Trump and Chinese President Xi Jinping in the future.
"We've made tremendous progress," Trump said of the negotiations.
COMMENT:-
Mr. Trump deserves credit for getting back between one third and one half of the normal volume of soybean sales that had been lost, but, since it appears that the sale price is still below cost of production, I'll hold off unreserved congratulations until it is clearer whether the US is going to make a profit or simply lose less.
PS - If you read between the lines, this sale looks suspiciously like "tiding China over until the alternative (non-America) sources come on line" - but, I always was a cynic.