Trump promised China would buy more soybeans. American farmers are still waiting

China led by President Xi Jinping has been accused of engaging in unfair trade practices

"The ones that produce in the US are definitively complaining about rising raw material prices", said Metzler analyst Juergen Pieper.

Shares of automakers including Daimler, Ford and Tesla rallied on the headline.

But tariffs on United States soybeans and ongoing trade war caused the amount of soybeans heading to China to drop to almost zero, despite October and November typically representing the peak season. The company has been working with Shanghai's government on establishing a factory to assemble cars in China. Her estimate was based on an assumption that the existing 10 per cent tariffs on US$200 billion worth of Chinese goods would remain unchanged next year.

China and the United States discussed the road map for the next stage of their trade talks on Tuesday, during a telephone call between Vice Premier Liu He and U.S. Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer. But he has also vowed to go ahead with that increase on March 1 - and to impose new levies on other imports from China - if no progress is made in talks with Beijing.

In a long-sought concession to the U.S., China agreed to label fentanyl, the deadly synthetic opioid responsible for tens of thousands of American drug deaths annually, as a controlled substance. "However this approach is making China think twice about their hard stance", said Ernesto Ramos, Managing Director of Active equities for BMO Global Asset Management in Chicago.

Less than two weeks after the Trump administration declared a 90 day armistice in the trade war with China, the White House is preparing to condemn China for hacking and IP theft, with the Department of Justice readying indictments against several Chinese hackers.

The trader said China was seeking to buy a total of 2.5 million to 3 million tonnes of US soybeans.

Marcus Morris leads depleted Celtics past Pelicans
Getting embarrassed by the Kings after the game. "They made the shots and kind of punched us and we didn't respond". After scoring just three points on 1-of-6 shooting in the first half, Buddy Hield found success late as well.

China has also told state oil trader Unipec to buy US oil, and the United States is expecting Beijing to cut tariffs on USA -made autos and vehicle parts.

"Firstly we had news that China was considering reducing tariffs on U.S. cars, then the Huawei CFO was released on bail and then Trump said he could intervene in the case if it helped secure a trade deal".

Sentiment had got a lift on Tuesday from reports China was considering cutting import tariffs on American-made cars to 15 percent from the current 40 percent.

State-owned Chinese companies bought at least 500,000 tonnes of US soybeans, two USA traders said, in deals valued at more than $180 million. China's decision came amid a period of heightening tensions between the US and China over trade and intellectual property issues.

In a tweet, Mr Trump said the two sides were having "very productive conversations".

Trump in late May had announced tariffs on steel and aluminum imports, prompting retaliation from top trading partners like China that spilled into agriculture markets.

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