China plans to accelerate purchases of American farm goods to comply with the phase one trade deal with the U.S. following talks in Hawaii this week. The world’s top soybean importer intends to increase buying everything from soybeans to corn and ethanol after purchases fell behind due to the coronavirus, said two people familiar with the matter, who asked not to be named because the information is private. A separate person said China’s government has asked state-owned buyers to make efforts to meet the phase one pact.
Nobody from the commerce ministry responded to a fax seeking comment. Chinese foreign ministry spokesman Zhao Lijian said “I don’t have any further information to provide right now” when asked about the purchase plans at a briefing in Beijing.
On Thursday, U.S. Secretary of State Michael Pompeo said China’s top foreign policy official committed to honor all of his nation’s commitments under the trade deal.