Sputnik has discussed US-China trade talks with Don Roose, president of an Iowa-based broker US Commodities. Sputnik: Why is China considering importing $30 billion of US agricultural goods, what’s your opinion about this? Don Roose: I think it’s a moving target. It’s a big number. The balance of trade is a negative for the US and our whole push has been to get the balance of trade back to some kind of a more of a balance over the next five years. And probably a bigger issue is the IT and IP protection, but also within that negotiation we’re talking about a big number. $30 billion is a huge number. They’ve targeted 10 items and agricultural is in there as far as purchases, but to put it into perspective, last year we were more like $19.7 billion of trade with China that they bought. So you’re talking about jumping from basically $20 billion to $50 billion. So that’s a large number and I think that’s still very much a work in progress. Sputnik: Apart from the United States, China also buys agricultural goods from various markets, like Brazil, Russia and other big agricultural nations. So what consequences can this move have on Brazil and other agricultural markets? CC BY 2.0 / United Soybean BoardTrade War Cut US Soybean Exports to China 90% – Top USDA EconomistDon Roose: I think… Read full this story
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