US Agriculture Minister Sonny Perdue spoke yesterday at a hearing in a Senate Committee on Agricultural Trade Issues on how to negotiate trade tension with China.
If the negotiations fail, a recently created US $ 1.3 billion fund will have to cover the damage caused to US farmers by the political dispute.
Perdue admitted that he would not negotiate in the same way as President Trump did. Trump had threatened the Chinese to impose 25% punitive tariffs on Chinese imports worth $ 100 billion should China impose punitive tariffs on 106 US goods. Among them would be soybeans.
He was pleased that Chinese President Xi Jinping showed a willingness to be flexible.
Text: HANSA Derivatives Trading GmbH /
