Chinese companies have started to inquire about prices for U.S. agricultural goods purchases, Beijing said on Thursday, in a further sign of potential de-escalation in the bitter and protracted trade war between the world’s two largest economies.
The move comes before a planned meeting in early October between top U.S. and Chinese trade negotiators in Washington aimed at easing a trade conflict that has disrupted global supply chains and rattled financial markets.
On Wednesday, Beijing and Washington both made concessions on planned tariffs, helping lift global stocks as well as China’s yuan currency.
Speaking at a weekly news briefing in Beijing on Thursday, Chinese Commerce Ministry spokesman Gao Feng said China welcomed the U.S. move.
China reduced purchases of U.S. farm products in August, after U.S. President Donald Trump vowed to impose new tariffs on around $300 billion of Chinese goods, blaming Beijing for not having fulfilled a promise to buy large volumes of U.S. farm products and abruptly dimming prospects of a trade deal.