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Trump tones down China optimism

President Trump is now downplaying expectations for a quick resolution to trade issues with China.

In an early morning tweet Wednesday, Trump said talks with China may require a different framework. He said reaching agreement “will be too hard to get done and to verify results after completion”.

Many ag industry leaders are also taking a wait-and-see approach.

“I am a bit skeptical of one of the claims that we’re going to see a 30 to 40 percent increase in exports of products to China,” says Iowa Soybean Association CEO Kirk Leeds, a frequent visitor to China. “At the end of the day, products will get exported to China based on price, quality and availability.”

But Leed adds that ISA is encouraged by the “halting, at least, of the current trade war and some positive movement”.

Last weekend, Trump tweeted that China had agreed to buy “massive amounts” of additional ag products”, adding that it “would be one of the best things to happen to our farmers in many years!”

AUDIO: Kirk Leeds