The Chinese government has started to deliver on commitments to buy U.S. agricultural products and cut automotive tariffs following the recent meeting between President Xi Jinping and President Donald Trump. It may be too early to be overly optimistic for the results from negotiations that have with 77 days remaining. A 1.5 million ton order of soybeans compares to average U.S. exports to China in 2017 of 2.66 million tons per month, i.e. just 17 days of deliveries. A cut in automotive import tariffs to 15% from 40% only reverses tariffs applied in July but will only be applied throug...
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