Chinese government declares that US agricultural products will not interfere with imports from other countries

Li Xingqian, one of the members of the Chinese Ministry of Commerce, declared this Tuesday, 21st, that the purchase of agricultural products Americans will not interfere with the importation of goods from other countries. The statement was made by the authority at a press conference.

To understand the official's statement, it is necessary to bear in mind that China and the United States signed on the 15th of this month the first part of the agreement that puts an end to the trade war between the two countries. The document foresees the importation by China of an additional US$ 32 billion of agricultural products. Do you want to know more about the affirmation of the member of the Chinese government? Then continue reading the article!

Details on the Chinese government's statement regarding the importation of agricultural products from the US

According to Li Xingqian, the Chinese government welcomes the importation of competitive goods from the North American country. He also stated that China hopes that the entry of products will be facilitated by the United States.

Another point addressed by the Chinese official in the interview was how the government of the Asian country intends to increase its imports. According to him, this expansion will be based on market conditions and also in accordance with the requirements of the World Trade Organization (WTO).

It is important to mention that China must make the imports agreed with the US government within a period of 2 years. It is expected that in 2020, the Asian country will buy US$ 12.5 billion of products. Already in 2021, this value should increase to US$ 19.5 billion.

There are those who say that this requirement cannot be met. According to the managing partner of Agroconsult, André Pessôa, in an interview given to Valor, the United States would not have this additional quantity of agricultural products to export.

Even so, the agreement was signed by both countries and it is expected that the requirements will be met. It is important to mention that there is still one more part of the pact to be signed. Only after that, the trade war between the two countries will finally be ended.

Final considerations

Having said that, we News Report we hope that we have clarified the main information regarding the Chinese Ministry of Commerce member's statement. Comment here what you thought of Li Xingqian's speech. Also, let us know what you think about the requirement to purchase agricultural products North Americans. Finally, keep following our website for more news about the world economy.

 

Source: R7 It is Value