China June soybean imports fall on trade war, deadly pig disease

China June soybean imports fall on trade war, deadly pig disease

Beijing's retaliatory tariffs past year on imports of agricultural goods have slammed many farmers - a key Trump constituency - forcing bankruptcies and a slowdown in farm lending as many operations struggle and fall deeper into debt.

When it comes to Chinese purchases of USA agricultural goods, signs are growing that President Donald Trump won't get what he wants anytime soon.

China's exports likely fell in June as weakening global demand and a sharp hike in USA tariffs took a heavier toll on the world's largest trading nation, a Reuters poll showed.

China's global exports sank 1.3 percent to $212.8 billion while imports fell 7.3 percent to $161.9 billion. Altogether the two giants have slapped each other with punitive tariffs covering more than $360 billion in two-way trade, damaging manufacturers on both sides of the Pacific. Beijing's manufacturing activity also contracted last month.

Trump met his counterpart Xi on the sidelines of the G20 summit in Japan in June and agreed to revive negotiations, but a trade agreement looks increasingly distant.

Starbucks launches new Tie-Dye Frappucino
Check out the Starbucks website for more information and see the full nutrition facts for the new Tie-Dye drink ahead. When considering the taste and end look of the Tie-Dye Frappucino, we wouldn't recommend getting this drink.

A steady performance of the domestic economy could provide Beijing with fresh confidence to take a harder stance in talks with Washington, as it would indicate the U.S. tariffs and the acceleration of the relocation of manufacturing from China to Southeast Asian countries has not derailed growth. China's total exports ticked up 0.1 percent on-year during the first six months while imports fell 4.3 percent.

Imports fell 7.3 percent, a sharper drop than the 4.5 percent forecast by analysts and following a 8.5 percent contraction in May, suggesting domestic demand remains tepid despite a flurry of growth boosting measures since a year ago. Purchases from the United States have collapsed, with imports in January-June shrinking to $58.9 billion from $84 billion past year - a roughly 30 percent drop in purchases which has hit American farmers particularly hard. It rose to $29.9 billion in June, from $26.9 billion in May.

"Macroeconomic indicators of growth, employment and consumer prices are all in normal ranges", said Liu, the top economic aide to President Xi Jinping and China's top negotiator in trade talks with the Trump administration, according to the official state-run Xinhua News Agency. During the first half of the year, it expanded to $140.5 billion from $133.8 billion last year.

But data released on Thursday (July 11) by the US Department of Agriculture indicate that China actually slowed its purchases of American agriculture products following the G-20 meeting.

Related News:

  • Dwight Gooden arrested, charged with cocaine possession, report says

    Dwight Gooden arrested, charged with cocaine possession, report says

    Police pulled him over on June 7 for erratic driving and having tinted windows that were too dark, the New York Post reports. Gooden is now 54-years-old, and he was first sent to a rehabilitation facility in 1987 for cocaine possession.
    Setbacks for Trump's drive to lower prescription drug costs

    Setbacks for Trump's drive to lower prescription drug costs

    The government had hoped that by eliminating rebates of 15 percent to 30 percent of a drug's listed price, the prices would fall. Healthcare Providers ETF (NYSEArca: IHF ) jumped 3.7% on Thursday, breaking back above its 200-day simple moving average.
    Sorority convention in New Orleans cut short by Barry

    Sorority convention in New Orleans cut short by Barry

    About 800,000 people are under a hurricane warning along the Louisiana coast from south of Lafayette to south of New Orleans . Tanya Gulliver-Garcia, of New Orleans' Broadmoor neighborhood, had a planned trip to NY , with a flight out Friday evening.
  • Fire rages on Maui

    Fire rages on Maui

    Maui Electric said about 4,000 customers in parts of South Maui lost power Thursday at around 1:50 p.m. due to the fire. The County of Maui's Facebook page is providing updates on road closures and evacuations.
    China is obliged to buy more USA  agricultural goods, according to Trump

    China is obliged to buy more USA agricultural goods, according to Trump

    Mr Trump also claimed that China, in exchange, has agreed to buy a "tremendous amount" of American food and agricultural products. China's trade surplus with the United States , a major source of friction, rose 11 per cent in June from May to $29.92 billion.
    Marcus Morris considering coming to the New York Knicks

    Marcus Morris considering coming to the New York Knicks

    According to Jabari Young of The Athletic , a deal is on the table for Morris from NY . Word is, there's a 1-year, $15M deal on the table from #Knicks ...
  • Ed Sheeran confirms he is married to Cherry Seaborn

    Ed Sheeran confirms he is married to Cherry Seaborn

    You'd have to hunt the song online to listen (sorry). "Congrats on more unbelievable music!, Love you dude @teddysphotos". The Astroworld rapper appears on the song "Antisocial", for which he has also debuted a cinematic video.
    Robert Mueller's congressional testimony may be delayed

    Robert Mueller's congressional testimony may be delayed

    Special Counsel Robert Mueller's blockbuster appearance before two House committees has been delayed until later this month. There's nothing Mueller "can say, he's written a report, it said, no collusion and it said effectively, no obstruction".
    Japan cryptocurrency exchange loses $32 million of virtual money

    Japan cryptocurrency exchange loses $32 million of virtual money

    Markets did not even blip when Binance , the world's largest exchange, announced it had lost around $40 million in a hack in May. A Google Translated version of Bitpoint's note informing customers that operations have ceased.
  • CHINA UN: China close detention centers in Xinjiang

    CHINA UN: China close detention centers in Xinjiang

    Department of State reported that China "significantly intensified" its crackdown on Muslims previous year . China claims that Uighurs are being educated in "vocational training centres" created to combat extremism.

    Seattle natural disaster : Quake rattles Washington state today, followed by aftershock today

    The quake was relatively shallow, but according to the USGS map , it was felt all the way to the Canadian border. The US Geological Survey (USGS) reports that a magnitude 4.4 quake shook the Seattle area early Friday morning.
    US Coast Guard Crew Boards Suspected Drug-Smuggling Submarine in Pacific

    US Coast Guard Crew Boards Suspected Drug-Smuggling Submarine in Pacific

    The dramatic, one-minute video was recorded by a member of the Coast Guard wearing a helmet camera on June 18 . The Coast Guard, he said say, is tasked with patrolling the area with the equivalent of two police cars.


Most liked

Which Fast Food Place Has the Best French Fries?
The offer is available exclusively through the McDonald's mobile app for iOS, which means you'll need an account to get the deal . At BurgerFi (the closest one is in Cuyahoga Falls), customers can get a regular order of fries for $1 all day.

Serena Williams closes in on record Wimbledon crown
So was her body language, including when Halep looked up at her coach, yelled and extended an arm in the first set's final game. There are, of course, many reasons why Serena Williams has been as successful as she's been, for as long as she's been.

World Cup, Wimbledon Finals Clash With British GP, Leave Lewis Hamilton Baffled
It was announced on Wednesday that the British Grand Prix will remain at Silverstone for at least the next five years. This has been a strong track for us in the past so hopefully this weekend it'll be a sweet spot for us".

Patrick Stewart Has A New Dog In Star Trek: Picard's New Poster!
Even though not explicitly mentioned, this might also be the place we get to learn more about the Section 31 series. Picard and his dog are on what appears to be a hill above the Picard vineyard.

Daniel Sturridge’s Lucci strike! Star and dog reunited after £30k appeal
Sturridge, 29, offered a £30,000 reward for the return of the Pomeranian, which he said was stolen during a break-in at his house in Los Angeles.

Shoelace is Google’s latest attempt at making a social network that sticks
Shoelace is a hyperlocal app for organizing events and activities, called " Loops ", which makes it similar to Facebook Events. It is now available only to 'select communities' in New York City, and users must have an active Google account to sign in.

Twitter is back up after global outage
According to Down Detector, a website that tracks outages, problems were reported from the US, Europe and elsewhere. Twitter is back up after being down for an hour. "We will keep you updated on what's happening".

I won't complain about Wimbledon crowd - Djokovic
Having won his 12th French Open title last month, he had looked fired-up to win his third Wimbledon crown and first since 2010. Two more service holds put him within a set of victory and the Swiss turned the screw in the fourth set as Nadal faded.

400,000 join Facebook event to 'storm' Area 51 and 'see them aliens'
Area 51, also known as Homey Airport, is a remote outpost of the Edwards Air Force Base located about 125 miles from Las Vegas. More than 400,000 people have signed up to join an event to stormthe world-famous Area 51 in search of aliens.

Samsung Galaxy Note 10 prices leaked and it's nothing unusual
Samsung will launch two different Note 10 configurations this year, namely the standard Note 10 and the larger Note 10 Plus. The rotating bezel may really be on its way out unless it made a decision to retain the control on non-Active models.

Amazon reportedly plotting upgraded Echo as work on Alexa robot continues
This could work well for Amazon, but it wouldn't be the first time high-fidelity music service available to consumers. The higher-quality Echo marks just the latest move by Amazon to gain ground in the smart speaker market segment.

Manchester United confident of agreeing £75m transfer for 26-year-old star
It will be worn for the first time on Saturday, when they face Perth Glory in a pre-season friendly in Western Australia. The £180m price-tag comes as United themselves were left gobsmacked by Newcastle's own valuation of their top midfielder.

Raids targeting undocumented immigrants set to begin within days
Moore says while the Grand Rapids region specifically, is not a target, ICE agents already have a presence in the area. The scope of the enforcement will likely be far less ambitious than Trump first suggested in his June 17 tweet.

VW investment vaults Argo into top ranks of self-driving firms
One vehicle has already been confirmed and is due to arrive in 2023, and Ford is now studying a second. Automakers worldwide have been forced to transform quickly in the race to dominate new technologies.

Over 370000 sign petition to release rapper A$AP Rocky
The Supreme Court rejected the appeal, which means the rapper will stay in Swedish custody until his court date. It is being reported that the Harlemite is in police custody in Stockholm, along with his three associates.