Posted on 08/05/2019 1:02:16 PM PDT by SeekAndFind
China announced on Tuesday that it has suspended purchases of US agricultural products in retaliation for a “serious violation” of agreements between its President Xi Jinping and his counterpart Donald Trump.
Trump’s announcement last week that the US would put a new 10 per cent tariff on US$300 billion worth of imports from China was “a serious violation of the consensus of the heads of state of the two countries”, state news agency Xinhua said in a report issued soon after midnight.
China “has not ruled out import tariffs on US agricultural products purchased after August 3, and related Chinese companies have suspended purchasing US agricultural products,” Xinhua said.
“It is hoped that the US will conscientiously implement the consensus reached at the meeting between the heads of state of China and the United States, and have the confidence to implement the commitments to create the necessary conditions for cooperation in the agricultural fields between the two countries,” the report added.
After the two presidents held a summit during the G20 in Osaka, Japan in June, Xinhua reported that the two leaders had agreed to resume economic and trade negotiations, and that the US said it would not impose any new tariffs on Chinese products.
Trump told reporters after the meeting that: “We’re holding back on tariffs and they’re going to buy farm products”, adding that his meeting with Xi was “far better than expected.
Negotiations since the June meeting – including high-level talks in Shanghai last week between Chinese Vice-Premier Liu He, US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin – failed to produce any breakthrough concessions, prompting Trump to announce the new tariffs shortly after the US officials returned to Washington.
(Excerpt) Read more at scmp.com ...
Considering China is have a horrible time feeding themselves, this is not wise. I have heard the phrase, “Don’t defecate where you eat.” It applies to this tough guy stupidity.
rwood
No they don’t need to learn to code. Farmers are strong, resourceful people who are the bedrock of this country. I’d be willing to bet most of them resent being held hostage by the Chinese.
If those other countries are smart they will buy from us and then mark it up to sell to Chinese.
They got you fooled. Manufacturing is the bedrock of any first/second world countries economy, agriculture is ghetto.
Really, how much do you think you can manufacture with an empty belly?
I can buy food on the open market just like manufactured goods right doofus? Tractor monkeys can KMA.
One percent of GDP LOL! Agriculture is a joke.
You are an idiot. You probably think all food comes from the grocery store neatly packaged for your convenience.
I agree manufacturing is important but we are all interconnected here. We all need each other and failing to stand up for any sector weakens us all. The greatest thing about being American is we take care of each other.
You will not manufacture anything without raw materials. Think it through...
My problem remains....corn for fuel.
Think about what? The USA has more raw materials than any other country in the world. You need to think.
But sounds like a few folks in Hong Cong aren't very happy living in their communist country.
The Chinese can't feed it's people they, have to buy grain from somewhere.
No You are the f---ing idiot. The raw agricultural products that get processed in the USA can come from many sources even from overseas. Agriculture is ghetto and only 1% of GDP but has a huge sway over politics WHICH IS TO THE DETRIMENT OF ALL. Farmers are snowflakes, and that is being kind.
Agriculture, food, and related industries contributed $1.053 trillion to U.S. gross domestic product (GDP) in 2017, a 5.4-percent share. The output of America's farms contributed $132.8 billion of this sum—about 1 percent of GDP.
You are right. Never trade with Communists.
I know of a sweet potato farmer in Eastern NC who is going to have to find another market for this years’s crop of second- quality he sells for dog food to china.
“China to starve.”
No, walmart, aldi and other low cost grocers are going to have to find new suppliers for their canned goods along with increased prices.
Chest thumping move. They need our agri products. They can’t even grow enough rice to feed everyone.
A tariff is not and embargo!! LOL!! Some of you are comedians right?
I dare you to say that to a farmer face to face.
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