The Chinese companies are renewing their interest in purchasing agricultural products from the US, as the sign of slight loosening of the trade war between the US and China is in the air.
This new scenario has opened the door for business. The request from the Chinese counterparts has been sent to US Business firms inquiring about crops and other agricultural products. Chinese firms also applied for relief in tariff to the Chinese authorities.
Chinese Authorities will appoint experts who will look after the request made by Chinese businesses to exclude the goods that they are trying to import from the US.
The US has imposed heavy tariffs on Chinese goods to push its point that it does not want unequal trade balance with China anymore that had carried on for decades.
China opposes this US narrative saying that a deal must be fair and equal. It shows Chinese unwillingness to bow down to the US pressure tactics.
Both are searching for a common ground
The trade war has forced the world supply chains to change the route and have slowed down the financial markets. Many keen Chinese firms who want to purchase American goods urged both the US and China to short out a deal quickly to resume the normal trade between them.
In a tweet, the Editor in Chief of China’s nationalist Global Times, Hu Xijin said, Chinese firms are preparing to buy agricultural products from the US. This suggests that the trade talks may resume soon.
The authorities from both sides have talked over phone recently after the goodwill shown by the leaders in Osaka.
As per the data provided by US Department of Agriculture (USDA), China who is the largest importer of soybean in the world has put up the biggest order of sorghum this month, since have cancelled about 9,853 metric tonnes of US soybean as per weekly cancellation data.