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Trump's hailing of $50 billion in Chinese farm purchases seen as 'meaningless'
Source: Reuters
BUSINESS NEWS OCTOBER 14, 2019 / 3:42 AM / UPDATED 7 HOURS AGO
Trump's hailing of $50 billion in Chinese farm purchases seen as 'meaningless'
Dominique Patton
5 MIN READ
BEIJING (Reuters) - China is still a long way from forking out $50 billion for farm goods from the United States, agriculture industry analysts said on Monday, cautioning that getting there is contingent on removing substantial technical and political hurdles.
Outlining the first phase of a deal to end a trade war with China, U.S. President Donald Trump on Friday lauded his counterparts for agreeing to make purchases of $40 billion to $50 billion in U.S. agricultural goods.
That would be double the $24 billion China spent on American farm goods in 2017.
But Darin Friedrichs, senior Asia commodity analyst at brokerage INTL FCStone in Shanghai, threw cold water on the pledge.
“I think it’s a meaningless big number, thrown out to get headlines, and won’t happen,” Friedrichs told Reuters.
-snip-
Trump's hailing of $50 billion in Chinese farm purchases seen as 'meaningless'
Dominique Patton
5 MIN READ
BEIJING (Reuters) - China is still a long way from forking out $50 billion for farm goods from the United States, agriculture industry analysts said on Monday, cautioning that getting there is contingent on removing substantial technical and political hurdles.
Outlining the first phase of a deal to end a trade war with China, U.S. President Donald Trump on Friday lauded his counterparts for agreeing to make purchases of $40 billion to $50 billion in U.S. agricultural goods.
That would be double the $24 billion China spent on American farm goods in 2017.
But Darin Friedrichs, senior Asia commodity analyst at brokerage INTL FCStone in Shanghai, threw cold water on the pledge.
“I think it’s a meaningless big number, thrown out to get headlines, and won’t happen,” Friedrichs told Reuters.
-snip-
Read more: https://www.reuters.com/article/us-usa-trade-china-agriculture/trumps-hailing-of-50-billion-in-chinese-farm-purchases-seen-as-meaningless-idUSKBN1WT0TG
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