China’s refusal to lift grain quotas make Trump’s phase one import demands ‘more difficult’ | Forex Factory

  • China’s refusal to lift grain quotas make Trump’s phase one import demands ‘more difficult’

    From scmp.com

    China will not increase its grain import quotas to meet demands from the United States included in the pending phase one trade deal, a key member of Beijing’s negotiating team said, with analysts suggesting that this makes it “more difficult” to buy the requisite amount of American farm goods. The US has claimed that as part of the deal – likely to be signed on January 15 – China will buy an additional US$80 billion in US agricultural goods over two years. Some amount of this would likely be composed of corn, rice and wheat, however, China has not yet confirmed the figures, only saying it would import those ... (full story)

Comment Options
RossEdwards
Jan 7, 2020 4:53am
Permalink
Quoting CactusFund
Take a step back and read between the lines. This is the US-China & Iran situation. Where does China import 70% of its Oil? The pressure for China to sign has increased hence the "likely to be signed" despite increased demands from Trump.
For Information:
Below are the top 15 countries that supplied 90.6% of the crude oil imported into China during 2018.

Russia: US$37.9 billion (15.8% of China’s total imported crude)
Saudi Arabia: $29.7 billion (12.4%)
Angola: $24.9 billion (10.4%)
Iraq: $22.4 billion (9.4%)
Oman: $17.3 billion (7.2%)
Brazil: $16.2 billion (6.8%)
Iran: $15 billion (6.3%)
Kuwait: $11.9 billion (5%)
Venezuela: $7 billion (2.9%)
United States: $6.8 billion (2.8%)
United Arab Emirates: $6.7 billion (2.8%)
Congo: $6.4 billion (2.7%)
Colombia: $5 billion (2.1%)
Malaysia: $4.8 billion (2%)
Libya: $4.7 billion (2%)
Reply
CactusFund
Jan 7, 2020 12:55am — Edited
Permalink
Take a step back and read between the lines. This is the US-China & Iran situation.

Where does China import 70% of its Oil? The pressure for China to sign has increased hence the "likely to be signed" despite increased demands from Trump.

Unfortunately, we live in a world where pawns are not restricted to just the chessboard.
Reply
CactusFund
Jan 7, 2020 1:50pm
Permalink
Quoting RossEdwards
{quote}Iran: $15 billion (6.3%) Kuwait: $11.9 billion (5%) Venezuela: $7 billion (2.9%) United States: $6.8 billion (2.8%) United Arab Emirates: $6.7 billion (2.8%) Congo: $6.4 billion (2.7%) Colombia: $5 billion (2.1%)...
One can not deny the patterns of strategy amidst all this madness, with China being Irans biggest customer whilst having sanctions I have no doubt they were getting a very cheap deal on their barrels which they especially need during this damaging trade war which is clearly hurting China
Reply
  • Story Stats