China 'in touch' with U.S. on Phase 1 Trade Deal
China and the United States are in touch over the signing of their Phase 1 trade deal, China's commerce ministry said, which will see lower U.S. tariffs on Chinese goods and higher Chinese purchases of U.S. farm, energy and manufactured goods.The Phase 1 deal was announced last week after more than two years of on-and-off trade talks, although neither side has released many specific details of the agreement.Both the Chinese and U.S. trade teams are in close communication, Gao Feng…
U.S. sets Trade Terms, Beijing So Far Silent
Washington has set its terms for a trade deal with China, offering to suspend some tariffs on Chinese goods and cut others in exchange for Beijing's buying more American farm goods, U.S. sources said on Thursday.Beijing has yet to confirm whether it is on board with the proposal, although officials will hold a press briefing Friday night local time to update progress on the talks, the State Council Information Office said. Officials from the state planner, ministry of finance, foreign ministry, agriculture ministry and ministry of commerce will attend.In the hours since U.S.
Kudlow: Trump "open-minded" about U.S.-China Deal Prospects
White House economic adviser Larry Kudlow said on Friday that the U.S. team was "open-minded" about the outcome of U.S.-China trade talks next week, which will include deputy-level meetings on Monday and Tuesday, with minister-level meetings Thursday and Friday.Kudlow declined to make any predictions about the talks but said that there had been a "softening of the psychology on both sides" in the past month, with the United States delaying some tariff increases and China making some modest purchases of American farm products.Reporting by David Lawder
Beijing: U.S.-China Trade Talks 'constructive'
U.S. and Chinese negotiators wrapped up a brief round of trade talks on Wednesday that Beijing described as "constructive", including discussion of further purchases of American farm goods and an agreement to reconvene in September.The first face-to-face trade talks since a ceasefire was agreed last month amounted to a working dinner on Tuesday at Shanghai's historic Fairmont Peace Hotel and a half-day meeting on Wednesday, before U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin flew out."Both sides…
Admiral Schultz Emphasizes Maritime as a Driver of U.S. Commerce
Last month Maritime Reporter & Engineering News was invited to join Admiral Karl Schultz, the Commandant of the United States Coast Guard, on a trek to New Orleans for an underway tour on board a mid-stream transfer operation in the Mississippi River. As the U.S. inland waterway system has endured historic water levels for more than six months, the destination provided a perfect backdrop to discuss several key messages coming from USCG leadership: the maritime industry’s critical role in facilitating U.S.
Brazil Minimum Freight Rates Hurt Port Cargos -Association Chief
Brazil's policy of setting minimum freight rates is reducing the volume of cargo at Brazilian ports as farmers and agricultural exporters have difficulty arranging transportation at higher cost, according to the head of a Brazilian ports association.The country instituted minimum rates for freight above the previous market rate as part of a deal to end a truckers' strike over high diesel prices in May. The strike paralyzed the country's roadways, preventing agriculture exports…
COFCO Says Brazil Needs More Logistics Investments
Brazil could compete better in global agriculture markets if it increased infrastructure investment and diversified its transport network, an executive at COFCO International, the Chinese commodities trader, said on Monday.Eduardo Gradiz Filho, head of grains and oilseeds for COFCO in the country, said at an agribusiness conference that Brazil's port infrastructure is adequate but the country still relies too much on trucks to ship farm products, which is inefficient.Solving what he called "logistical bottlenecks" is Brazil's greatest challenge over the next few years to leverage its competiti
Farmers Hit by Strife at West Coast Ports
Protracted labor strife and shipping disruptions at U.S. West Coast ports have hit farmers especially hard, posing a major barrier to perishable goods headed to overseas markets and resulting in losses estimated at hundreds of millions of dollars a week. Foreign Pacific Rim customers facing chronic delays in shipments of U.S. food and farm products are turning to other countries for produce ranging from citrus and apples to beef and pork, the Washington-based Agriculture Transportation Coalition (AgTC) has reported. Many frustrated U.S.