Report: China to Buy $20B in Agricultural Products from U.S. in New Deal

During the first year of the new trade deal, China will reportedly buy $20 billion in agricultural products from the United States.

China aims to buy at least US$20 billion of agricultural products in a year if it signs a partial trade deal with the U.S., and would consider boosting purchases further in future rounds of talks, people familiar with the matter said.

The US$20 billion would take its imports of U.S. farm goods back to around the level in 2017, before the U.S. began imposing tariffs. In the second year of a potential final deal when all punitive tariffs are removed, those purchases could rise to US$40-$50 billion, said the people, who asked not to be named discussing the private talks. The people did not say when the first year would start or when China would start counting agricultural imports toward the US$20 billion.

Continue reading the full article at BNN Bloomberg.

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