China to buy more US farm products in latest goodwill gesture
|As a goodwill gesture ahead of the next month's high-level trade talks, China has decided to offer exemptions from additional tariffs to support purchases of more US farm products, including soybeans and pork, according to the official Xinhua News Agency.
The move comes after the decision by the United States last week to exclude hundreds of Chinese products from a 25% duty US President Donald Trump had imposed on $250 billion worth of Chinese goods.
Also, the US president ruled out thoughts of a ‘partial’ deal in a speech at the United Nations General Assembly in New York on Tuesday.
China's goodwill gesture could further ease trade tensions and bode well for the riskier assets, including the commodity dollars like the AUD and the NZD.
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