Loading
Breaking
Now Reading: CANCELLED | Hopes for trade breakthrough fade as China cancels U.S. farm visits
CANCELLED | Hopes for trade breakthrough fade as China cancels U.S. farm visits
September 21, 2019 , 01:52 PM

WASHINGTON/CHICAGO, Sept 20 (Reuters) – A U.S.-China trade deal appeared elusive on Friday after Chinese officials unexpectedly canceled a visit to farms in Montana and Nebraska as deputy trade negotiators wrapped up two days of negotiations in Washington.

Chinese officials were expected to visit U.S. farmers next week as a goodwill gesture, but canceled to return to China sooner than originally scheduled, agriculture organizations from Montana and Nebraska said.

The United States had removed tariffs overnight from over 400 Chinese products in response to requests from U.S. companies.

The Chinese Embassy and the U.S. Department of Agriculture did not immediately respond to requests for comment.

The U.S. Trade Representative’s office issued a brief statement characterizing the two days as “productive” and that a principal-level trade meeting in Washington would take place in October as previously planned.

Trade experts, executives and government officials in both countries say that even if the September and October talks produced an interim deal, the U.S.-China trade war has hardened into a political and ideological battle that runs far deeper than tariffs and could take years to resolve.

The Chinese delegation did not present any new proposals on core structural issues including intellectual property protections, forced technology transfers, industrial subsidies and other trade barriers, said a person briefed on the talks.

“The conclusion from the U.S. side was that we’re not close to an agreement,” the person said.

This source and another person familiar with the talks said that the Chinese delegation’s leader, Vice Finance Minister Liao Min, laid out China’s demands that any deal must remove all U.S. tariffs and be balanced so that it is not all concessions from Beijing and none from Washington.

The sources said that a lack of results from deputy meetings is not uncommon as they often are not authorized to make deals or present new offers.

The early October meeting will include the top trade negotiators: Chinese Vice Premier Liu He, U.S. Trade Representative Robert Lighthizer and U.S. Treasury Secretary Steven Mnuchin. It is expected to determine whether the world’s two largest economies are starting to chart a path out of their 14-month trade war or headed for new and higher tariffs on each others’ goods.

Cancellation of the Chinese agriculture visits, which were seen as potentially leading to increased purchases of U.S. soybeans and pork, caused Wall Street’s main stock indexes to fall as early optimism about the talks faded.

Grain and soybean futures on the Chicago Board of Trade and livestock futures on the Chicago Mercantile Exchange also slumped. China is the world’s largest pork market and the largest importer of soybeans.

Before the talks started, some reports had suggested that an interim deal was being considered, involving Chinese purchases of U.S. farm goods, some improvements in Chinese market access and an easing of U.S. sanctions on Huawei Technologies Co Ltd

But U.S. President Donald Trump made clear on Friday that purchases would not be enough for him to end his punitive tariffs.

“We’re looking for a complete deal. I’m not looking for a partial deal,” he told reporters, adding that he did not need a deal to happen before the 2020 presidential election.

Speaking at a White House meeting with Australian Prime Minister Scott Morrison, Trump touted the billions of dollars in U.S. tariff receipts on Chinese imports, adding that the total would soon reach $100 billion.

“I will say this: we’re making a lot of progress with China,” the Republican president said.

The Trump administration and China’s Communist Party remain far apart on issues that are the basis of their trade dispute, including the U.S. declaring some Chinese state companies national security risks, and Beijing’s refusal to revamp its economic model by eliminating subsidies for state companies.

USTR issued three Federal Register notices on Friday to exclude a wide range of products from tariffs in response to requests from U.S. companies, which argued that the levies would cause economic hardship.

The 437 exempted products range from printed circuit boards for computer graphics processors to dog collars, laminated wood flooring and miniature Christmas lights.

The United States is asking that China substantially increase purchases of American soybeans and other farm commodities, a person with knowledge of the planned discussions told Reuters. (Reporting by David Lawder, Lisa Lambert, Heather Timmons in Washington and Karl Plume in Chicago; Editing by Tom Brown, Marguerita Choy and Grant McCool)

More From News5
Tuloy ang war on drugs
Posibleng magbago ang istilo ng PNP sa war on drugs oras na lumabas ang resulta ng imbestigasyon ng Senado sa 'ninja cops' at agaw-bato issue.
Published On: October 16, 2019
Smuggled na yosi sa Zamboanga City
Narekober sa sasakyan sa Baliwasan Seaside ang kahun-kahong smuggled na sigarilyo.
Published On: October 16, 2019
Robredo sa naging galaw ng protesta ni Marcos
Mabuting balita raw na isasapubliko na ang committee report ng Presidential Electoral Tribunal, ayon kay VP Leni Robredo, para malaman ng publiko ang nangyari sa naging recount sa mga boto sa tatlong pilot provinces na pinili ng nagpoprotestang si dating senador Bongbong Marcos.
Published On: October 16, 2019
May plano ang gobyerno sa traffic -Panelo
Tanungin daw muna ng mga kritiko ang mga concerned department kung anong plano para maibsan ang matinding traffic sa Metro Manila bago mag-criticize, ayon kay Sec. Salvador Panelo. Kasunod ito ng mungkahit ni Bayan secretary-general Renato Reyes na dapat integrated ang transport system ng bansa, at ng pahayag niyang hindi sapat ang infrastructure projects sa ilalim ng Build, Build, Build para maresolba ang traffic issue.
Published On: October 16, 2019
Kabit ni mister, bestfriend ni misis
'Di lubos akalain ni Jeisa na pati bestfriend niya ay mapapabilang sa mahabang listahan ng mga naging babae ng kanyang mister. Ang masaklap, nagagawa pa raw siyang saktan ng asawa sa tuwing pagsasabihan sa kanyang pambababae.
Published On: October 16, 2019
SEA Games trivia: Athletics
Nakilala si Lydia de Vega bilang 'Asia's Sprint Queen' noong 1980s habang 'Long Jump Queen' naman si Elma Muros sa SEA Games atheletics.
Published On: October 16, 2019
SEA Games trivia: Volleyball
Anim na gintong medalya na ang inuwi ng Pilipinas sa women's volleyball.
Published On: October 16, 2019
SEA Games trivia: Gymnastics
Unang nakilala si Bea Lucero sa 1987 SEA Games matapos masungkit ang dalawang gintong medalya sa individual overall at balance beam events.
Published On: October 16, 2019
Testigo sa pagdinig sa GCTA, ibinunyag na may 'GCTA fo sale' sa Bilibid
Ibinunyag ni Yolanda Camelon, isa sa mga testigo sa pagdinig kaugnay ng GCTA, kung paano siya inalok ni Correctional Sr. Insp. Mabel Bansil na magbayad para makalaya ang kanyang asawang nakakulong sa Bilibid.
Published On: September 16, 2019
WOTD | Emancipation
Ang Emancipation ay kung saan ang pagiging 18-taong gulang ng isang Pilipino ang nagbibigay sa kanya ng lahat ng karapatan para kumilos nang may legal effect. Alamin ang iba't ibang termino sa usapang legal kasama si Atty. Mel Sta. Maria
Published On: September 16, 2019
Top Stories
BAD IMAGE | Philippine VP says time for Duterte to halt failed drug war
OCTOBER 23, 2019 (REUTERS) — Philippine President Rodrigo Duterte should allow the United Nations to investigate his war on drugs, and abando
Published On: October 24, 2019
LOSE-LOSE SITUATION | DOH chief warns hospitals may face closures if they pullout from Philhealth
OCTOBER 24, 2019 — Health Secretary Francisco Duque III on Thursday said private hospitals may face closure if they push through with their p
Published On: October 24, 2019
RISKY REHAB? | Unexploded 500-pound bomb found in Marawi
By Manny Mogato, News5 editor at large (OCTOBER 23, 2019) – Workers clearing debris in Marawi’s ground zero on Wednesday discovered a 500-p
Published On: October 23, 2019
NOTHING TO WORRY | Muscle spasms caused Pres. Duterte’s back pains – Sen. Go
(OCTOBER 23, 2019) – President Rodrigo Duterte’s back pain was caused by muscle spasms, his former aide said on Wednesday, eliminating
Published On: October 23, 2019
NEXT TOP MAGISTRATE | Pres. Duterte appoints Peralta as Chief Justice
(OCTOBER 23, 2019) – President Rodrigo Duterte appointed a new Supreme Court chief justice to replace Lucas Bersamin, who is leaving the benc
Published On: October 23, 2019