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Hope for US-China trade deal? Chinese companies check the US agricultural prices report says, according to Trump delays new rates

close tovideo white house trade adviser on the forthcoming US-China trade talks

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A top Chinese official said Thursday that the companies in the country, were inquiries about the prices for US soy beans and pork in what could be a positive sign for the trade negotiations.

Gao Feng, the spokesman for the Chinese Commerce Ministry, appeared to be the voice of optimism about the upcoming talks in Washington, said in a weekly press conference that he hoped “the two countries create favorable conditions to create” to go forward, according to Reuters.

Hours earlier, the President, Trump announced on Twitter that he decided to delay for two weeks-another round of rates increases on Chinese imports. He called his decision a goodwill gesture.

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“At the request of the Vice-premier of China, Liu He, and due to the fact that the people’s Republic of China celebrates its 70th anniversary on 1. October, we have agreed, as a gesture of good will [sic], to move the increased duties on $ 250 billion worth of goods (25% to 30%), from 1. October, 15. October,” Trump wrote on Twitter.

The talks are expected to be in Washington next month Trump’s plan was to increase tariffs, met with opposition from farmers.

For more than a year, the economies of the world’s two largest economies are locked in a high-stakes duel marked by trump, the escalating fines for Chinese goods and Beijing’s retaliatory tariffs.

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The United States recently imposed a 15-percent duties on about $112 billion of Chinese imports. Overall, Trump has been imposed or declared the penalties to over $550 billion of Chinese products, or almost all, of what the U.S. buys from the world’s No. 2 economy.

The Associated Press and Fox Business contributed to this report.

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