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BREAKING UPDATE: China to Purchase an Additional 10 mmt of Soybeans

14:28PM Feb 22, 2019

breaking news( MGN )

U.S. Secretary Sonny Perdue tweeted on Friday that Chinese officials have committed to buying an additional 10 million metric tons of U.S. soybeans.  That announcement came as U.S. and Chinese officials taking part in trade talks met with President Trump in the Oval Office on Friday.

Our Washington Correspondent Jim Wiesemeyer said the two sides agreed to extend the talks over the weekend.  The President called the extension good news, saying it means a deal is more likely. When asked about a possible deal the President said, "I would say it's probably more likely that a deal does happen, but that doesn't mean it's going to happen."

The two sides have been holding talks all week.  They have reportedly reached agreement on some common ground involving currency, but U.S. Trade Representative Robert Lighthizer says there are still great hurdles left, but he was also upbeat, saying progress has been made on very important issues.

Washington insiders say President Trump and Chinese leader Xi Jinping will meet sometime during the week of March 24th at Mar-a-Lago to continue to try and work out a deal.  Negotiators are trying to beat a March 1st deadline.  That's when tariffs are set to increase on billions of dollars of Chinese goods.  President Trump said again on Friday he may extend the deadline. Make sure to continue to follow AgDay on Facebook and Twitter for the very latest.

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