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Home / Business / China cancels US farm visit while Trump is in for a "big deal" – Axios

China cancels US farm visit while Trump is in for a "big deal" – Axios



Trade dealers from China canceled visits to meet Montana and Nebraska farmers on Friday, about an hour after President Trump said he was interested in a "big deal", not "a partial deal" with China, the Washington Post reports .

The big picture: The US trade war with China has reduced US employment by 300,000 jobs, compared to probable levels of employment absent in the trade war, Moody's Analytics estimates. The National Foundation for American Policy estimates that tariffs will cost US households $ 2,000 each by next year.

State of play: Trump said last week he planned to postpone the last round of Chinese import tariffs to $ 250 billion until October 15, "as a gesture of goodwill. " US and Chinese trade officials resumed discussions this week, planning for a high-level meeting around October 10 per Bloomberg.

  • The United States imposed a 15% tariff on $ 112 billion of Chinese goods on September 1, to which China responded by resuming 25% tariff on US cars and adding 5-10% tariff for additional goods of $ 75 billion.

What they say: "We're looking for a complete deal," Trump said. "I'm not looking for a partial deal. We're looking for the big deal. We've taken it to that level."

  • Nicole Rolf, Montana Farm Bureau Federation's director of national affairs, told CNBC that "there was no explanation for why they cut the trip short. ”

Going deeper: US-China trade plunges ahead of October negotiations


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