Analysts see Trump’s hailing of $50 billion in Chinese farm purchases as “meaningless”

14.10.2019 - Kulakov Vladimir
Analysts see Trump’s hailing of $50 billion in Chinese farm purchases as “meaningless”

Analysts see Trump’s hailing of $50 billion in Chinese farm purchases as “meaningless”

China is still distant from buying $50 billion worth of agricultural goods from the United States according to analysts from the industry. They cautioned that this could only pull through if substantial technical and political hurdles have been removed.

As part of the first phase of a deal in attempts to end the trade war with China, U.S. President Donald Trump lauded his counterparts for agreeing to make purchases of U.S. farm products worth $40-$50 billion.

However, Darin Friedrichs senior Asia commodity analyst at brokerage INTL FCStone threw some doubt on the pledge.

Freidrichs said he thought it was just “a meaningless big number, thrown out to get headlines” and that nothing was to come of it.

Despite this, the emerging deal between the two countries represents the biggest step to end the tit-for-tat tariffs that slowed global economic growth.

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from umarkets.net or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue
×

Help with deposit?