China to step up US agriculture purchases under phase one trade war deal after Hawaii talks, sources say
- On Thursday, US Secretary of State Michael Pompeo said China’s top foreign policy official Yang Jiechi committed to honour all of his nation’s commitments under the trade deal
- China pledged to buy US$36.5 billion worth of American agriculture products under the phase one deal, up from US$24 billion in 2017, before the trade war.
China plans to accelerate purchases of American farm goods to comply with the phase one trade deal with the United States following talks in Hawaii this week.
The world’s top soybean importer intends to step up buying of everything from soybeans to corn and ethanol after purchases fell behind due to coronavirus disruptions, said two people familiar with the matter, who asked not to be named because the information is private.
A separate person said the Chinese government has asked state-owned agricultural buyers to make all efforts to meet the phase one agreement. China’s Ministry of Commerce did not respond to a fax seeking comment.
“During my meeting with CCP Politburo member Yang Jiechi, he recommitted to completing and honouring all of the obligations of Phase 1 of the trade deal between our two countries,” Pompeo said in a tweet on Thursday, using an acronym for the Chinese Communist Party (CCP).