For several weeks farmers have wondered if the Trump administration was in active negotiations with China because the president has been very quiet about potential talks. Today, during a Cabinet meeting, President Trump confirmed his team has been in talks with China, but so far have not be able to reach a deal.
During his comments Trump added that China has “sort of attacked our farmers” by trying not to buy from them, a concern that continues to put downward pressure on many of the commodity markets.
According to the Wall Street Journal, China’s Commerce Ministry said Thursday that a vice minister would travel to the U.S. at the invitation of the Treasury Department, to discuss trade issues.
Pro Farmer’s Jim Wiesemeyer, says a team of Chinese negotiators will be in Washington Aug. 22 through 23 for trade policy talks.
“Sources signal the team may bring up some or all of the eight policy points the Trump administration raised with Chinese officials earlier this year, only for the Chinese to leak them and dismiss them as degrading to them,” Wiesemeyer explained. “Reports have surfaced that Chinese leader Xi Jinping wants to find some way to reach an accommodation with the Trump administration on several lingering trade policy issues.”
Wiesemeyer says this meeting could be tied to data showing China's economy is starting to feel negative implications from ongoing U.S. tariffs.