U.S.-China negotiations to resolve the trade war are “moving along quite well,” said President Trump on Wednesday. Meanwhile, published reports said two rounds of talks were scheduled for late April and early May. The Wall Street Journal said negotiators are aiming for a signing ceremony at the end of May or in early June.
The trade war, which began more than a year ago, has stunted U.S. farm exports, an important source of ag revenue, and depressed commodity prices. Soybeans have been hit the hardest. In the past, 1 of every 3 bushels of U.S. soybeans was shipped to China. In order to reduce its trade surplus with the United States, China reportedly has offered as part of a settlement to increase its purchases of U.S. products, including agricultural goods.
“Our trade deal with China is moving along and it’s moving along nicely,” said Trump during a White House meeting on so-called opportunity zones. “And we’re asking for a lot of things. And I have a feeling we’ll be successful, and it’ll be good for both countries. But that’s moving along quite well. You’ll be hearing about it very, very shortly.”
According to the Journal, U.S. trade representative Robert Lighthizer will travel to Beijing for negotiations during the week on April 29 and Chinese vice premier Liu He will come to Washington during the week of May 6.