China plans to buy $4.7 billion worth agricultural goods in four months
China plans to increase imports of American agricultural goods. Bloomberg news agency reports this on the basis of insiders. By buying more products from farmers in the United States, ranging from soybeans and corn to ethanol, the Asian country is trying to keep agreements made in a previously concluded trade agreement.
Early this year, China pledged to buy more agricultural goods from the US, as part of a partial trade deal that would provisionally end a trade conflict between the two countries. The Chinese government is now said to have instructed state-owned importers to make every effort to deliver on those promised quantities. That assignment follows conversations between delegates from the two countries in Hawaii.
Aiming to meet early this year commitments somewhat alleviates concerns about mounting tensions between China and the United States. China’s new security law for Hong Kong has received strong criticism from the White House for fearing that Hong Kong’s autonomous status will disappear.
China has pledged to import $ 36.5 billion in U.S. agricultural products this year. In the first four months, the counter stuck at just under $ 4.7 billion in imported agricultural goods, or 13 percent of the target.