China says 'making enquiries' on buying U.S. farm products

China Vice Premier Lui He and President Donald Trump

China says 'making enquiries' on buying U.S. farm products

The Chinese Commerce Ministry responded Thursday morning saying that it welcomes a delay in US tariffs on Chinese goods.

The long-running trade war between China and the USA has seen them swap tariffs on goods worth hundreds of billions of dollars.

US President Donald Trump welcomed an apparent olive branch from Beijing in the grinding trade war between the two nations, which came weeks before negotiations are due to resume.

The move comes before a planned meeting in early October between top USA and Chinese trade negotiators in Washington aimed at easing the protracted trade conflict that has disrupted global supply chains and rattled financial markets.

Other categories that will become spared include alfalfa pellets, fish feed, medical linear accelerators and mold release agents, and the commission said it was also considering further exemptions.

The delayed round of tariffs applies mostly to industrial goods.

The announcement is the latest in a flurry of goodwill gestures from both sides in a year-long trade-war that has weighed on the global economy.

Indeed, the exempted list pales in comparison to over 5,000 types of United States products that are already subject to China's additional tariffs.

Gao did not confirm the specific date of the talks, although they are widely expected to take place before October 15, leaving room for a further postponement or even cancelling of some of the tariffs, Hong-Kong based South China Morning Post reported.

In a sign of the pressure being felt by the Chinese economy, the central People's Bank of China said on Friday it would cut the amount of cash lenders must keep in reserve, allowing an estimated $126 billion in additional loans to businesses.

China says USA trade policies are aimed at trying to stifle its ability to compete.

Trump has long accused China of intellectual property theft and manipulating its currency to make its goods cheaper than American products on the world market.

It looks as if it could lead to China buying US agriculture products again.

Earlier on Wednesday, a survey by a prominent American business association showed the trade dispute was souring the profit and investment outlook for United States companies operating in the world's second-biggest economy.

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