US Makes China Concessions As Tariffs Cost Companies Billions

The U.S. extends an olive branch delaying some tariffs on China.

Agricensus reports the U.S. tariff hike on 250 billion dollars worth of Chinese imports will now start two weeks later on October 15th. This after China exempts some American products from their retaliatory taxes, although the concession didn’t include many ag products

China’s Commerce Ministry separately said it had asked the U.S. about potential soybean and pork imports. Export sales data shows China also purchased U.S. pork and beef last week. Talks resume on the deputy level this month with higher talks coming in October.

U.S. companies paid 6.8 billion dollars in July due to tariffs. Tariffs Hurt The Heartland, released the report calculating a 62 percent increase from July 2018. They say the numbers don’t include recent and upcoming tariff increases.

Fifteen members of a President Trump campaign council receive trade aid payments. The environmental working group says they collected a total of 2.2 million dollars. The agribusiness council advised President Donald Trump during the 2016 race.