White House trade advisor vows 'tough' talks with China

Пятница, 14 Дек, 2018

Reuters, citing two usa commodity traders, reported that state-owned firms bought more than 500,000 tons of soybeans worth roughly $US180 million on Wednesday.

Risk assets are doing well today on signs of a thaw.

One U.S. trader with direct knowledge of the deals said Chinese state-owned firms bought at least 12 cargoes for shipment from January to March.

China's Finance Ministry didn't immediately respond to a faxed request for comment sent outside business hours.

Yet there were also reports the US would release evidence this week detailing Chinese hacking and economic espionage.

Stock markets aroused on Wednesday as U.S. President Donald Trump sounded energetic about an economic agreement with China, while sterling rose off multi month lows as Prime Minister Theresa May promised to battle a test to her initiative.

Following are US trade expectations for the opening of grain and soy complex trading at the Chicago Board of Trade at 8:30 a.m. CST (1430 GMT) on Thursday.

Trump agreed to leave tariffs on $200 billion worth of Chinese imports at 10 percent at the beginning of the new year rather than raise them to 25 percent as previously planned.

Still, U.S. equities finished well off their session highs and traders were not convinced the market was ready for a sustained move upward after two-straight days of gains. Futures in Chicago tumbled as a result, while the 2018 harvest had been piling up, unsold, in silos, bins and bags across the U.S. Midwest.

In July, China had boosted the tariff on American-made cars to 40pc as part of retaliatory measures against the US.

China reportedly bought more than 500,000 tons of United States soybeans, worth around $US180 million.

The USDA reported export sales of US corn in the week to December 6 at 903,200 tonnes for the 2018/19 crop year, below a range of trade expectations for 1.0 million to 1.5 million tonnes.

Navarro, an anti-China firebrand, said the key will be to "trust but verify".

The 25 percent tariff on USA soybeans Beijing imposed on July 6 remains in effect.

Global markets are jittery about a collision between the world's two largest economic powers over China's huge trade surplus with the USA and Washington's claims that Beijing is stealing intellectual property and technology.

Of China's $51bn of vehicle imports in 2017, about $13.5bn came from North America, including sales of models made there by non-US manufacturers like BMW. Brazil will start harvesting its next crop in early 2019 - leaving a window for the U.S.to sell.

USA officials later said they wanted to see China move to reduce the vehicle tariffs "immediately" as a sign that negotiations would proceed in good faith.

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