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Chinese consumers are not happy about higher prices and decreased supplies of food. Yesterday, Chinese buyers snapped up "at least 10 boatloads of soybeans," according to Reuters, as the U.S.-China trade war showed signs of compromise. The South China Morning Post reports:
Beijing will allow Chinese businesses to purchase a "certain amount of farm products such as soybeans and pork" from the United States, according to the Xinhua report. "China's market is big enough and there's great potential to import high-quality US farm products."
Xinhua - News - Agency - Friday - China
The official Xinhua News Agency reported on Friday that China's National Development and Reform Commission and the Ministry of Commerce made the exemption in response to the US' decision of postpone an increase in the tariff rate on $250 billion of Chinese goods from October 1 to October 15.
It comes after US President Donald Trump spoke on Thursday of the possibility of an "interim trade deal" over the coming weeks.
Authorities - US - Word - Promises - Conditions
It added that Chinese authorities hoped that "the US will honour its word and fulfil its promises to create favourable conditions for cooperation for the two countries in the agriculture sector".
A two-week delay in higher U.S. tariffs and vague mention of a "possibility" led China to take a move that created a surge in U.S. exports to China. Gordon Change sees this as indicating China's lack of leverage:
Thing - China - Leadership - People
The last thing China's leadership wants is for people there to...
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