The official who negotiated the Phase 1 trade deal calls Chinese compliance with the agreement’s targets a ‘no-brainer’
There is still plenty of skepticism about China meeting its Phase 1 commitments in 2020, but not for the man who negotiated the trade deal. The pact calls for an increase in China’s annual agricultural imports to US$40 billion in 2020 and 2021, up from the previous high of $24 billion in 2017. That 2020 […] Read moreTag Archives china
How to stand up to a superpower
Canada is not alone as it feels China’s wrath, but Australia is facing down the Asian giant in a high-stakes strategy
CANBERRA, Australia (Reuters) — Australia is standing up to China. Watch closely: it may be a harbinger of things to come, as the world’s smaller countries respond to the increasingly coercive Asian economic superpower. For years, the Australian political and business establishment had a paramount goal: protect and expand this country’s booming exports to fast-growing […] Read moreDon’t expect too much, no matter what happens with Meng
Whatever happens Wednesday, China will not be a market we can count on again
Tomorrow (Wednesday) a B.C. Supreme Court judge will release the ruling on whether or not to uphold the validity of Huawei executive Meng Wanzhou’s arrest and detention on a U.S. extradition request. A lot of people are hoping Meng gets released, goes back to China, that China calms down, the two Michaels are released and […] Read more
Disputes with China accelerated and frozen by COVID-19
Where will Canadian farmers stand in a new Cold War?
In some ways the COVID-19 crisis has frozen Canada’s and other countries’ disputes with China, drawing everybody’s attention to the immediate needs of preserving national healthcare systems, protecting people’s health, and dealing with the devastating job losses and business failures provoked by the coronavirus. Just today the U.S. government announced that over 30 million U.S. […] Read more
China flexes economic muscles with exporters
Canadian farmers might feel hurt and alone in the abuse they are suffering from China’s belligerent government. But in being hit in the pocketbook by China, Canadian farmers are sharing a situation being experienced by a growing cohort of targeted developed world industries. “China is having disputes with an awful lot of countries simultaneously,” said […] Read more
U.S. should give China leeway in implementing trade deal due to virus – Grassley
WASHINGTON, (Reuters) – Washington needs to give China some leeway in implementing a Phase 1 trade deal given a downturn in the world’s second largest economy caused by the coronavirus, U.S. Senate Finance Committee Chairman Chuck Grassley said on Wednesday. Grassley told Reuters in an interview that he saw no evidence that China intended to […] Read more
China to halve tariffs on some U.S. imports as coronavirus risks grow
BEIJING, (Reuters) – China on last week said it would halve additional tariffs levied against 1,717 U.S. goods last year, following the signing of a Phase 1 deal that defused a bruising trade war between the world’s two largest economies. While the announcement reciprocates the U.S. commitment under the deal, it is also seen by […] Read more
U.S. ag secretary unsure if coronavirus will slow China’s farm imports
CHICAGO, (Reuters) – U.S. Agriculture Secretary Sonny Perdue said on Wednesday he does not know whether China’s coronavirus outbreak will upset Beijing’s pledge to radically increase purchases of American farm goods as part of the countries’ recent trade deal. The virus has cast further doubt on China’s ability to buy $36.5 billion of U.S. agricultural […] Read more
Hopes for spike in U.S. farm exports to China dim ahead of trade deal signing
CHICAGO/BEIJING, (Reuters) – Days before a U.S.-China trade deal is due to be signed, large Chinese purchases of Brazilian soybeans and a pair of unexpected policy moves by Beijing have dimmed U.S. hopes that China would double its imports of American farm products this year. U.S. President Donald Trump has touted the prospect of China […] Read more
What is actually in the U.S.-China ‘Phase One’ trade deal?
(Reuters) – The United States and China have agreed on the terms of a “Phase One” trade deal that reduces some U.S. tariffs on Chinese goods and is said to boost Chinese purchases of American farm, energy and manufactured goods while addressing some disputes over intellectual property. Neither side has released many specific details of […] Read more
