China's trade surplus tops $1 trillion for first time
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China’s top leaders are signaling they are on alert for a potential flareup of tensions in global commerce as they draw up economic plans for next year, after amassing a record trade surplus despite the tariff war with the US.
US Trade Representative Jamieson Greer told lawmakers Tuesday that China's announced deadline for fulfilling its pledge to purchase American soybeans had been extended from the end of the year to the end of the "growing season" because of a “discrepancy.”
China for months earlier this year had boycotted purchasing soybeans from U.S. farms because of a trade war began by President Donald Trump.
Goldman Sachs Group Inc. says the yuan is 25% undervalued and will appreciate more than forwards contracts are pricing for 2026.
President Donald Trump announced a $12 billion farm aid package to support U.S. farmers amid ongoing trade negotiations with China and tariff concerns.
China and France pledged deeper cooperation on global issues like the war in Ukraine and trade, as France prepares to take on the presidency of the Group of Seven next year. French President Emmanuel Macron met with China's Xi Jinping on Thursday morning as part of a three-day state visit focusing on trade and diplomacy.
U.S. trade with China needs to be balanced and probably needs to be smaller, U.S. Trade Representative Jamieson Greer said on Thursday, adding that he viewed a 25% drop in goods trade with China as heading in the "right direction.
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