that China and the United States "agreed in principle" on a partial trade deal, the first sign of a breakthrough in 18-month trade war that's dragged down the global economy, whipsawed financial markets, and raised fears of a recession.
Crucial details still need to be put into writing before Trump heads to a summit of global leaders next month in Chile where Chinese leader Xi Jinping is expected to attend and an agreement could be inked. And though TrumpThe pact doesn't cancel any of the tariffs, something the Chinese governmentbefore any final comprehensive agreement is reached. Beijing also hasn't confirmed it would buy farm goods at the $40 billion to $50 billion level that the White House touted.
This can be seen in the chart below, which features data from the US Department of Agriculture. It shows that, over the last decade, sales of farm goods to China peaked in 2012 at $25.9 billion. That marked a record high, with over half of it coming from soybeans.Further, the sale total of exports regularly topped $20 billion before plummeting in 2018 as a result of the trade war. Analysts have forecasted another slump this year to $8 billion.
Other analysts were more blunt about the figures. Darin Friedrichs, a senior Asia commodity analyst at the Shanghai-based brokerage INTL FCStone, characterized the pledge as virtually meaningless.Friedrichs told Reuters.
It was 500 billion,, but Russia stepped in and I guess got the new deal... but hey 50 billion is alot better than no billion...
American is still the defending champion of having the Most Stupid President on Earth trump
He is lying and playing the market for profit.
Why do you keep quoting him like he is even telling the truth? The whole world knows he is a pathological liar.
Finished the War with China. The US is Now Trade Wars with Europe. Really Assholes..
Another big mistake by the chosen one.
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