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U.S. & China need a new location to sign trade deal
The U.S. and China will have to choose another location to sign their phase-one trade deal. Chile President Sebastian Pinera canceled the Asia-Pacific Economic Cooperation Summit because of an extended state of emergency after a series of violent protests.
China and the U.S. were targeting November 17th for signing the new trade deal while in Chile.
If signed, President Trump says China would buy 50-billion dollars’ worth of U.S. agricultural goods. Analysts tell Bloomberg meeting that target will be challenging, as 70% of China’s U.S. purchases before the trade war were soybeans, and African Swine Fever has reduced the number of pigs eating soybean products. With fewer animals, analysts say imports might not rise to the 50-billion level. Chinese negotiators have said their purchases will be based on real demand.
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