The U.S. and China trade conciliatory gestures, raising hopes they can de-escalate a standoff over trade that has shaken financial markets and cast gloom over the global economy.
FILE - In this July 18, 2018, photo, soybean farmer Michael Petefish holds soybeans from last season's crop at his farm near Claremont in southern Minnesota. China's government says its importers are inquiring about prices for American soybeans and pork in a possible goodwill gesture ahead of talks aimed at ending a tariff war with Washington.
In Beijing, China’s Commerce Ministry said Thursday that Chinese importers are asking U.S. suppliers for prices of soybeans, pork and other farm goods. It’s a sign they might step up purchases of American agricultural products, a possible goodwill gesture ahead of talks next month aimed at ending the tariff war.
The gestures Wednesday and Thursday appear meant to reduce tension ahead of the talks. U.S. stocks, highly sensitive to the ups and downs of the negotiations, rose in early trading before giving up most of the gains by late morning. The U.S. and China have slapped import taxes on hundreds of billions of dollars’ worth of each other’s products in a tariff war that has weighed on global trade and economic growth and created uncertainty for businesses deciding where to situate factories, find suppliers and sell their products.
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