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Analysts see Trump’s hailing of $50 billion in Chinese farm purchases as “meaningless”
China is still distant from buying $50 billion worth of agricultural goods from the United States according to analysts from the industry. They cautioned that this could only pull through if substantial technical and political hurdles have been removed.
As part of the first phase of a deal in attempts to end the trade war with China, U.S. President Donald Trump lauded his counterparts for agreeing to make purchases of U.S. farm products worth $40-$50 billion.
However, Darin Friedrichs senior Asia commodity analyst at brokerage INTL FCStone threw some doubt on the pledge.
Freidrichs said he thought it was just “a meaningless big number, thrown out to get headlines” and that nothing was to come of it.
Despite this, the emerging deal between the two countries represents the biggest step to end the tit-for-tat tariffs that slowed global economic growth.
Indonesia on Wednesday rolled out a 100 trillion Rupiah ($6.92 billion) loan guarantee scheme for prioritized businesses to keep them afloat as the COVID-19 situation continued to worsen around the world, the country’s finance minister ...
Bloomberg News reported on Thursday that Elon Musk’s Space Exploration Technologies Corp. (SpaceX) is in talks to raise new funds at a valuation of $44 billion. The aerospace company said that it is in discussions with a number of investors ...
Backed by record-low mortgage rates, U.S. home sales reached its strongest record in June. However, the outlook for the housing market remained murky as low inventory and high unemployment rate pressed amid the virus crisis. Existing home ...
On Tuesday, Ebay Inc. (EBAY.O) announced that it had reached a deal to sell off its classified ads business unit to Adevinta ASA (AD5B), a Norway-based classified ads publisher owned by Danish media company Schibsted (SBSTA.OL). The classified ...
European new car registrations fell in June year-on-year, but showed some improvement when compared to May 2020 as lockdown measures continue to loosen across the region, Tuesday’s industry data showed. In June, passenger car sales were ...
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