Economy

Amid trade talks, China drops anti-dumping probe into USA sorghum imports

Amid trade talks, China drops anti-dumping probe into USA sorghum imports”

HONG KONG-As China-US trade talks resumed in Washington, China said on Friday it is dropping antidumping and anti-subsidy investigations into imported US sorghum, saying it is not in the public interest.

The investigation began in February after the US imposed new tariffs on imports of Chinese solar panels.

In a readout of the latest round of trade negotiations, the White House said the U.S. officials conveyed the President's clear goal for a fair-trading relationship with China.

The measure was threatening to effectively halt a trade worth about $1.1 billion (€930 million) a year ago, sparking fears among American farmers that they could lose their largest export market for the crop. The grain is mainly used as an ingredient in liquor.

Hours earlier, it dropped an anti-dumping probe into US sorghum imports in a conciliatory gesture as top officials meet in Washington.

The ministry now says that such a measure would particularly hit Chinese livestock breeders struggling to make ends meet as domestic pork prices fall.

One U.S. source said earlier U.S. aircraft maker Boeing Co would be a major beneficiary of the Chinese offer to narrow the trade gap if Trump were to accept it. Boeing is the largest U.S. exporter and already sells about a quarter of its commercial aircraft to Chinese customers. "The next US sorghum crop will be harvested in August".

"Now they are showing goodwill by halting its anti-dumping investigation into sorghum imports, but it is a cheap way of showing goodwill as the US doesn't have much sorghum left to export". But it is still just a drop in the bucket compared to the overall trade deficit in goods, which reached $375 billion previous year.

The Commerce Ministry said it was ending the antidumping probe because it would have raised costs for consumers.

The negotiations center on U.S. complaints about Chinese investment restrictions, theft of American intellectual property and the overproduction of metals. Trump had told reporters earlier that he had doubts about the potential for an agreement.

China's chief negotiator, Liu He, a top economic adviser to Mr. Xi, is meeting on Thursday with the Treasury secretary, Steven Mnuchin; the United States trade representative, Robert Lighthizer; Wilbur L. Ross, the commerce secretary; and other officials.

Meanwhile, the US Congress is looking set to advance a bill that would give the US greater power to block deals between American and Chinese companies that could risk national security, The Wall Street Journal said.



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