Trump, Commerce Secretary Send Signal That China Deal Can Wait

Trump, Commerce Secretary Send Signal That China Deal Can Wait

The U.S.is the largest contributor to the World Bank, which provides low-interest loans to low-income nations.

China echoed those comments Wednesday by saying they "will not set any time limit" on signing an agreement.

A statement from the bank late Friday night said that lending to China "has fallen sharply and will continue to reduce as part of our agreement with all our shareholders including the United States". Buyers have used up nearly all of its waivers to purchase American soybeans, people familiar with the matter told Bloomberg earlier this week.

"They are willing to pay a higher prices for Brazilian beans than what domestic crushers are paying", he added, declining to be identified as he was not authorised to speak with media.

Ross said that the tariffs scheduled to take effect on December 15 will stay in place unless "enough substantive progress has been made" in trade talks.

CBS News says, according to a U.S. Steel quarterly earnings call, selling prices for U.S. Steel were already expected to rise.

Soybeans are crushed to make cooking oil and soymeal, a protein-rich animal feed ingredient.

In a optimistic gesture, China mentioned on Friday that it's going to waive import tariffs for some soybeans and pork shipments from the US, as the 2 sides attempt to thrash out a broader settlement to defuse their protracted commerce battle. "In some ways I like the idea of waiting until after the election for the China deal", he said from London, where he is attending a North Atlantic Treaty Organisation summit.

CBOT wheat was down 3-1/4 cents at $5.20-1/2 a bushel, while corn was down 1-1/4 cents at $3.75-1/2 a bushel. That compares with zero premium for freshly harvested US soybeans. -Chinese trade negotiations and factored in expectations that rival soybean supplier Brazil will harvest a record crop in the coming months.

Kudlow was guarded in discussing the tariff round due to hit around United States dollars 160 billion in Chinese imports - including popular consumer items like mobile phones - beginning December 15.

Those hoping that the USA can avert further trade tensions with China will be disappointed to learn that President Trump now thinks it's better to wait for the 2020 elections before doing something about the issue.

Several industry sources in the United States and China interpreted the announcement as official confirmation of duty exemptions on up to 10 million tons of soybeans and an unknown volume of pork sources said were offered to importers earlier this year.

Also on rt.com Trade war escalates?

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