FX.co ★ US-China trade talks come to halt over farm purchases

The US seems to keep its stance regarding the trade deal with China. Another round of tariff hike is likely to take place as was planned before. Recent attempts to reach an agreement were not successful and left no hopes for an early resolution of the trade conflict. China still does not agree with the terms put forward by the US. Washington expects Beijing to buy $50 billion of American farm goods a year in return to its agreement to roll back the existing tariffs. Currently, the volume of the purchases in the agricultural sector does not exceed $10 billion. Even before the trade war, the farm purchases were not more than $20 billion, so these demands can easily be called overstated. China strongly resists the pressure and does not rush to sign the deal. So, the early resolution of the trade conflict seems to be impossible. The Chinese authorities hope that the White House will once again postpone the imposition of the tariffs. Meanwhile, Donald Trump stays quite optimistic about the progress of the trade deal. “Well, we’ll have to see. But right now we’re moving along. We’re not discussing that, but we are having very major discussions on December 15. We are having very good discussions with China,” the American president noted.