US breaks market rules by forcing China to buy more farm goods
China's highest planning body exposed the United States' deceitful claim on Monday. The White House, a day after describing the 12th round of trade talks as "constructive", threatened to impose extra 10 percent tariffs on the remaining $300 billion of Chinese goods starting Sept 1. Why? Because, according to the US, China doesn't buy "enough" US agricultural products.
However, the National Development and Reform Commission's clarification on Monday laid bare the US' fraudulent claim. In one month since the Osaka G20 Summit, the US has shipped about 2.27 million tons of soybeans to China, and by Friday, the two sides had reached agreements on agricultural products including 130,000 tons of soybeans, 40,000 tons of pork, and 120,000 tons of sorghum.
Playing wild cards at the table may be an effective tactic during business negotiations. But the mixed, if not chaotic, signals being sent by the US at the trade talks will do nothing "constructive", except for deepening the trust deficit and further damaging investors' confidence in the markets of the two largest economies. Besides, it will also add more uncertainties to the already fragile global economic outlook.