China made first big US soybean purchase after trade truce
China made its first major purchases of U.S. soybeans after a trade war truce was called earlier this month, Reuters informs.
Trump told Reuters in an interview the Chinese were already buying a “tremendous amount” of U.S. soybeans. China purchased over 1.5 million tons of beans.
"In another sign of concessions to the United States, China appears to be easing its high-tech industrial push, dubbed “Made in China 2025,” which has long irked Washington," Reuters reports.
The Trump Administration in its turn agreed to a 90-day detente to negotiate a trade deal. Nevertheless, Washington promised to raise the duties again if the parties do not demonstrate progress in the negotiations.
China and the United States decided to halt the trade war at the G20 summit in Argentina. The leaders of the two countries Xi Jinping and Donald Trump agreed to settle trade claims within three months and not introduce new duties over this period.