ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2023
  • Adani Saga
  • Markets
    • Stocks
    • Global Markets
    • IPO
    • Companies
    • Currency
    • Commodities
  • My Money
  • Calculators
    • Income Tax Calculator
    • Home Loan/EMI Calculator
    • Mutual Fund Returns Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • SIP calculator
    • Lumpsum Calculator
    • SWP Calculator
  • Videos
    • M Se Market
    • Jeb Zindagi Zaroorat
    • Light Camera Stocks
    • Tech Takes
    • Big Bulls Ka Nishana
    • Paisa Wasool
    • Commodity Ke MrityunjayMantra
    • The Right Property Show
  • Economy & Infra
    • Policy & Initiatives
    • Agriculture
    • Telecom
    • Aviation
    • Railways
    • Retail
    • Roadways
    • World Economy
  • Exclusive
    • Wealth Guide
    • Interviews
  • Auto
    • Cars
    • Bikes
    • Electric Vehicle
    • Commercial Vehicles
  • Tech
    • Mobiles
    • Gadgets
    • Reviews
    • Tips and Tricks
    • Apps
  • Real Estate
    • Home Buyers
    • Builders
  • Axis MF
  • Trending
    • Entertainment
    • Politics
    • Lifestyle
    • Travel
    • Sports
    • Viral
    • Education
    • Jobs
Read in App
Business News » World News

'Good vibe' U.S.-China trade talks followed by soybean purchases

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App

The U.S.-China trade talks this week had a "good vibe" with much work remaining, White House economic adviser Larry Kudlow said on Friday as China followed through on a pledge to increase soybean purchases with orders of at least 1 million tonnes.

But U.S. President Donald Trump`s optimism about prospects for a deal was tempered by China trade watchers, who questioned how much real progress was made on core U.S. demands for structural policy changes in China.

Trump said on Thursday he would meet with Chinese President Xi Jinping, perhaps twice, in the coming weeks to try to seal a comprehensive trade deal with Beijing, but acknowledged it was not yet clear whether a deal could be reached.

Kudlow, who participated in the talks as the director of the White House`s National Economic Council, said China`s engagement on core issues such as U.S. complaints of Chinese policies that force the transfer of technology was far more extensive than in previous talks.

They talks "had a good vibe, they covered a lot of ground. Both sides looked at more specifics than ever before," Kudlow told Fox Business Network.

"We`re not ready to put things down on paper," Kudlow said later on Bloomberg Television. "We`re a ways from that. Much hard work is still in front of us."

A day after Chinese Vice Premier Liu He closed the talks by telling Trump that China would increase purchases of U.S. soybeans by 5 million tonnes, traders told Reuters that state-owned firms on Friday bought at least 1 million tonnes of the oilseed for shipment between April and July.

The news sent benchmark Chicago Board of Trade March soybean futures to their highest point since mid-June, before China imposed retaliatory soybean tariffs in early July.

But China`s new commitment, which drew a positive reaction from Trump, only doubles the modest soybean purchases made by state firms since returning to the market in December after an initial truce between Trump and Xi. It falls well short of the 31.9 million tonnes of American soybeans shipped to China in 2017, a level some analysts say may never be seen again.

Several people briefed on the talks said that while Chinese negotiators engaged U.S. officials on structural issues surrounding intellectual property and technology transfer practices, they did not bring any new proposals to the table.

"So they are continuing to buy us off with soybeans," said an agricultural industry source. "Maybe it’s a good-faith gesture, but I haven’t heard of any offerings from their side" on larger issues.

Scott Kennedy, who directs the Project on Chinese Business and Political Economy at the Center for Strategic and International Studies, said he viewed Trump`s positive comments and tweets about the trade talks as "indications of atmospherics and mood."

"I don`t take them literally as a reflection of what was negotiated or agreed upon by the Chinese relative to the U.S. demands," Kennedy said. "USTR is still running the negotiations and the demands are still high."

U.S. Trade Representative Robert Lighthizer on Thursday told reporters he had complete confidence in Trump to close a deal with Xi that addresses U.S. concerns, but cautioned that much more progress was needed for a meeting with Xi.

"If we don`t make headway between now and then, my advice would be we can`t finish," Lighthizer said. "But if we do make headway and the president thinks we`re close enough that he can close the deal ... then I think he`ll want to have a meeting and do that."

The talks did not "come off the rails. That`s significant," Lighthizer added. "Will we have an agreement? I don`t know."

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Economy
Updated: Sat, Feb 02, 2019
05:15 am
Reuters
RELATED NEWS
RBI to hike repo rate by 25 bps in February, ending tightening cycle: Reuters poll RBI to hike repo rate by 25 bps in February, ending tightening cycle: Reuters poll
Pakistan raises petrol price by Rs 35, pushing retail cost to a whopping Rs 249.80 per litre amid severe food, energy crisis Pakistan raises petrol price by Rs 35, pushing retail cost to a whopping Rs 249.80 per litre amid severe food, energy crisis
Budget 2023: Why budget's printing was shifted to North Block from Rashtrapati Bhavan? Budget 2023: Why budget's printing was shifted to North Block from Rashtrapati Bhavan?
Govt to sell 30 lakh tonnes of wheat in open market till March to control prices of wheat, atta Govt to sell 30 lakh tonnes of wheat in open market till March to control prices of wheat, atta
India’s economic fortunes critical for global growth, its rise being welcomed by world: Kumar Mangalam Birla India’s economic fortunes critical for global growth, its rise being welcomed by world: Kumar Mangalam Birla

LATEST NEWS

Samsung Galaxy Book3 Ultra Vs Book3 Pro Vs Pro 360: Full comparison of specifications and other details

Sanjiv Bhasin strategy, stocks today: Buy Titan and Reliance Industries shares - check price targets

CBSE Admit Card Class 10, 12 to be released soon on cbse.nic.in: Check steps to download

Should you buy, hold or sell Tata Consumer, Titan, Berger Paints, Birlasoft, Godrej Properties shares now?

India Vs Australia Schedule 2023: Ind v Aus Test match dates, venue, time table, squads, Live streaming, when and where to watch, other details

Vedanta share price falls 5%; check dividend record date and payment date

Adani Enterprises and Adani Ports among top Nifty50 losers after the group shelves FPO

Recognised startups not to face impact of proposed changes in income tax laws: DPIIT secretary

BSF Constable Recruitment 2023: Apply for 1401 vacancies - Check eligibility, pay scale and how to apply online

iQOO 11 5G Review: Swashbuckling flagship phone with plenty of hits, and few near-misses

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2023. India Dot Com Private Limited. All Rights Reserved.
LIVE TV