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Perdue Doesn't See New China Tariffs Coming Sunday
USAgNet - 12/10/2019

Speaking in Indianapolis Monday, U.S. Agriculture Secretary Sonny Perdue said on Monday he didn't expect the new tranche of tariffs on China to take effect Dec. 15. The looming deadline for new tariffs is just one of a number of events this week putting concerns over trade back at the forefront for investors and policy makers around the world.

"We have a deadline coming up on the Dec. 15 for another tranche of tariffs, I do not believe those will be implemented and I think we may see some backing away," Perdue said at the Indiana conference.

Besides the ongoing talks with China, the Trump administration is also trying to reach an agreement for a new "NAFTA" to pass through Congress. The World Trade Organization's dispute system, meanwhile, is facing paralysis with a U.S. boycott of new judges set to leave its appellate body without enough adjudicators to hear cases come Wednesday.

He added that Trump didn't want to implement the new tariffs. But "there's got to be some movement on their (China's) part to encourage him not to do that and hopefully the signal that they sent over soy and pork reduction might be that signal in that way,"

Perdue also pointed out the main difficulty in the Chinese-U.S. trade negotiations regard enforcement of contracts.

"The challenge is, we are used to dealing in contracts here, we are using to fulling contracts, one party contracts with another and we fulfill that, we have arbitration when that doesn't happen," he said. "Between nations there's not a lot of arbitration and that's the challenge. If China signs a deal and a contract, what are the enforceability measures of that? That's really what we are dealing with right now."

Chinese authorities want trade talks to yield results soon, Assistant Minister of Commerce Ren Hongbin told reporters in Beijing earlier Monday.

"We hope that the two sides will advance the negotiations and consultations in accordance with the principles of equality and mutual respect, take into account each other's core concerns and achieve satisfactory results as soon as possible," said Ren, who isn't involved in the talks with the United States.

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