AFBF Hopeful Trade War Turning the Corner

The American Farm Bureau Federation is hopeful the trade war with China is reaching a turning point, after months of devastating tariffs and retaliation between the two nations.  After China’s commerce ministry said Thursday it was opposed to escalating trade tensions, and that it wishes to resolve its long-running trade dispute with the U.S. with a calm attitude, stocks rallied the final two days of trade, up by roughly 700 points.

"Well, I think it's a good sign that both, seems to be, they are hopefully, having some discussions," said AFBF’s Dave Salmonsen.  "Probably, as we always say, in the 'back channels; but hopefully, that can move to a more public way, through real negotiations."

Comments from China’s commerce ministry were read as a signal that China will not retaliate against the latest round of U.S. tariffs.  However, despite those comments, the Trump Administration still implemented new tariffs over the holiday weekend, 15% taxes against roughly $112 billion of Chinese imports, which took effect Sunday.

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