Trump hits out at China over slowing agricultural purchases

US, China negotiators resume trade war talks

The charts above are based on worldwide trade data reported by the U.S. Census Bureau, which were recently updated to include May 2019.

Prior to the trade war ceasefire, Trump had threatened to impose tariffs on an additional $325 billion of goods manufactured in China. After a bilateral meeting, Trump announced that a new round of tariffs would be put on hold after China agreed to make new purchases of us farm products as the two sides returned to the negotiating table.

Top US and Chinese negotiators held phone talks on Tuesday as the world's top two economies seek to resolve their trade war, more than a week after they declared a truce.

The Commerce ministry's Gao declined to provide more information on the details of the call and plans for more talks in the next stage.

After meeting with President Xi Jinping late last month, Trump said China had agreed to buy more USA agricultural products as part of a cease-fire in the two countries' trade war.

Trade weakness has added to pressure on Xi's government to shore up economic growth and avoid politically unsafe job losses.

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Last month, a former Chinese diplomat, Zhao Weiping, told reporters in NY that the United States was asking "us to purchase more than we can buy". He said that Beijing is causing a disappointment.

"Mexico is doing great at the Border, but China is letting us down in that they have not been buying the agricultural products from our great Farmers that they said they would", Mr Trump said on Thursday on Twitter. Beijing has counterpunched by taxing $110 billion in USA goods, specifically targeting US farm products produced by many Trump supporters in the USA heartland.

Trump's statement "highlighted how more speed bumps may remain in the road ahead", said Craig Orlam of OANDA in a report. "While a deal makes sense for both sides this year, it's far from guaranteed and could hit many more snags".

June marked the first full month of higher U.S. tariffs on $200bn of Chinese goods, which Washington implemented weeks earlier after trade talks between the world's largest economies broke down. Farmers who use soybeans as animal feed have been told to switch to other grains.

Economists say even if a settlement with the U.S.is reached, China's exports this year will be lackluster due to weak global demand, putting pressure on manufacturers that support millions of jobs.

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