Economics
China Looks at How it Could Expedite U.S. Farm Goods Imports
- China considers buying 10m tons of U.S. soy for state reserves
- It could also buy as much as 20m tons of corn, people said
Farmers harvest soybeans in Wyanet, Illinois, U.S..
Photographer: Daniel Acker/BloombergThis article is for subscribers only.
China is studying ways that it could accelerate purchases of U.S. farm goods to meet its phase-one trade deal commitments after the coronavirus delayed some imports, according to people familiar with the matter.
The proposals being considered include potentially buying 10 million tons of American soybeans for Chinese state reserves if demand from private buyers isn’t enough, said the people, who asked not to be identified as the discussions are private. A final decision has yet to be made on what actions may be taken, according to the people.