China Quells Trade Tensions By Offering $70B in Ag, Energy Purchases

June 5, 2018 02:16 PM

After traveling to China to discuss the future of trade between the world’s two largest economies, trade officials with the Trump administration have returned.

Commerce Secretary Wilbur Ross and Chief Agricultural Negotiator Gregg Doud visited China to work out the details of China’s promise to purchase more American farm and energy products.

Tuesday, the Chinese Ministry of Commerce announced it would purchase $70 billion of these goods, including corn, soybeans, coal, and crude oil.

Ahead of the announcement, President Trump tweeted the following on Monday:

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