The United States and China have extended their trade truce for another two months, pushing the deadline from November 10 into January. During appearance on Fox News, U.S. Trade Representative Jamison Greer said this extension should be a time of increased Chinese agricultural purchases. “This really is the time when American farmers are harvesting and selling. They do it throughout the year, but this is a really intense time for that. so we expect to see the Chinese have an uptick in this. They’re doing what they need to do on soybeans, they’re past the halfway mark. On the other ag sales, they’re at about $5 billion.” The two countries also agreed to establish a government-to-government process to address future trade disputes. Details of the new U.S.-China Board of Trade are expected to be announced today.
