Chinese state media on Monday praised a significant dialing back of trade tension with the United States, saying China had stood its ground and the two countries had huge potential for win-win business cooperation.
U.S. President Trump said last week he would reconsider joining the landmark Trans-Pacific Partnership (TPP) trade agreement, if it were a “substantially better” deal than the one offered to President Obama.
Throughout U.S. farm country tariffs on steel and aluminum imports are boosting costs for equipment and infrastructure and causing some farmers and agricultural firms to scrap purchases and expansion plans.
Much of the retaliatory tariff concern is with U.S. soybeans since China is its top buyer. However, there are many other crops on the list of 106 items which could see a 25 percent tariff like corn, sorghum and cotton.