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China buys U.S. soybeans ahead of new trade talks

Christian Fernsby |
China said several million tons of U.S. soybeans have been shipped to China since the two countries' leaders agreed to resume trade talks in Japan last month.

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Chinese companies have started asking U.S. suppliers about their prices for soybean, cotton, pork, sorghum, among other agricultural purchases, since July 19, the official Xinhua News Agency reported Sunday, citing the country's top economic planner and the commerce ministry.

Some deals have been made, Xinhua said, adding these Chinese firms have submitted applications to the State Council to remove tariffs on the products purchased, Xinhua said.

Next, Chinese companies will continue asking about the prices of U.S. products, including soybean, cotton, pork, sorghum, wheat, corn and dairy, Xinhua and the state broadcaster reported. More purchases are expected to be made as long as these products are reasonably priced and have good quality, state media said.

They also urged the U.S. to take specific steps to implement its earlier commitment to create favorable conditions for bilateral trade talks, citing relevant government agencies.

U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin will arrive in Shanghai on Tuesday to meet with China's top negotiator, Vice Premier Liu He.

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