Tuesday, 18 December, 2018

As talks resume, China ends anti-dumping probe of U.S. sorghum

China suspends anti-dumping probe into US grain As talks resume, China ends anti-dumping probe of U.S. sorghum
Steven Clarke | 18 May, 2018, 12:37

China's Commerce Ministry announced on Friday that it was ending a probe because it concluded that "anti-dumping and countervailing measures" on United States sorghum imports would negatively affect Chinese consumers.

In the middle of its investigation, the ministry concluded that, "Anti-dumping and countervailing measures towards imported sorghum originating in the USA would have an effect on the price of dwelling of a majority of customers and wouldn't be within the public curiosity", in response to a discover posted on its web site.

Dalian soymeal futures slid more than 1 percent on Friday to their lowest since February after Beijing dropped its anti-dumping probe into imports of US sorghum.

The measure was threatening to effectively halt a trade worth about $1.1 billion (€930 million) previous year, sparking fears among American farmers that they could lose their largest export market for the crop.

It said it had received many reports that the investigation would result in higher costs for the livestock industry, adding that many domestic pig farmers were facing hardship because of declining pork prices.

The US shipped 4.8 million tons of sorghum to China previous year, compared with 317,000 tons in 2013.

The United States shipped 4.76 million tonnes of sorghum to China in 2017, worth about $1.1 billion, accounting for the bulk of Chinese imports of the grain used in animal feed and Chinese liquor.

Higher tariffs for U.S. sorghum would have hurt farmers in states such as Kansas, Texas, Colorado and Oklahoma, which are also major Republican-leaning states that make up President Donald Trump's base.

Miguna's silence on deputy governor job is killing us - Nairobians
It also comes hours after Miguna cancelled his flight to Kenya citing the government's failure to issue him with a valid passport. According to Elachi, Miguna was not qualified for the deputy governor's position because of his problematic citizenship status.

"Now they are showing goodwill by halting its anti-dumping investigation into sorghum imports, but it is a cheap way of showing goodwill as the US doesn't have much sorghum left to export. The next U.S. sorghum crop will be harvested in August", he told the news agency Reuters.

USA officials had said in Washington on Thursday that China was proposing trade concessions and increased purchases of American goods aimed at cutting the US trade deficit with China by up to $200 billion a year. China has responded by focusing on $50 billion in US imports.

The announcement came during a visit by Vice Premier Liu He to Washington to discuss ways to address the trade imbalance between the world's 2 biggest economies.

In return, China is asking the USA to set aside tariffs and investment restrictions it has threatened against Chinese companies, the report said.

Earlier on Friday, China announced that it was ending its sorghum investigation, which had effectively halted a trade worth roughly $1.1 billion past year.

One of the U.S. sources said United States aircraft maker Boeing Co. would be a major beneficiary of the Chinese offer to narrow the trade gap if Trump were to accept it, Reuters said. Trump had told reporters earlier that he had doubts about the potential for an agreement.

But getting to a US$200 billion reduction of the US-China trade deficit on a sustainable basis would require a massive change in the composition of trade between the two countries.

The Chinese promises would be largely illusory, economists cautioned, given the structural hurdles in China to buying more American exports and the sheer amount of goods the United States would have to produce to meet Beijing's demand, the daily reported.

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