The US is applying pressure on China to “contractualise” its recently stated commitments to importing more American agricultural and energy products, despite fears from US allies in the European Union and South America who could lose out on key business as a result.
A US delegation led by Commerce Secretary Wilbur Ross is expected to push for long-term “product-by-product” contracts with China during a visit to Beijing later this week, the Financial Times reports, acting as safeguards against any changes in the political mood between the two countries in the future.
The product list, which has already been presented to Beijing, will focus on goods that China currently buys from other countries such as crude oil, liquefied natural gas, and soyabeans. There is also the aim of lifting health and safety regulations on certain agricultural produce such as beef and poultry, which could double the current $20 billion export value of US farm goods to China, one source told the FT.