9/29, 2:16 AM (Source: TeleTrader)
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China nowhere near trade deal purchasing targets - report

China is not on track to meet annual import targets from the United States that were agreed under the phase one trade deal between Washington and Beijing, South China Morning Post (SCMP) reported on Tuesday.

According to the report, China's purchases of US goods from the deal amounted to $47.6 billion over the first eight months of the year while a year-to-date target stood at $95.1 billion. Therefore, Beijing is not expected to reach a $200 billion target from the agreement.

Imports of soybeans, corn and cars rose significantly in August but failed to push Beijing towards meeting its trade deal purchasing commitments. US corn sales to China reportedly surged 513% in August compared to June, while soybean sales jumped 432% and car sales climbed 97%.

Breaking the News / GA