China to import more U.S. meat and movies
April 18, 2017 Category Foreign trade, Weekly
China is likely to import more American meat, including pork and beef, and allow more Hollywood movies to be shown in the coming months to show that Beijing is taking steps to cut its trade surplus with the United States, Mei Xinyu, Researcher at the Chinese Academy of International Trade and Economic Cooperation said. China may also buy more oil and natural gas from the U.S. “The concessions are relatively easy for China to make,” Mei told the South China Morning Post. China’s gestures and a rise in imports from the U.S. “would enable U.S. President Trump to claim quick achievements and in exchange China can ask for bigger market access in the U.S.”, he said. China will probably start by increasing soybean and pork imports from the U.S. and lift a ban on U.S. beef imports, which has been in place since 2003, to narrow the USD347 billion annual trade surplus in goods enjoyed by China, Mei said. “As many of Trump’s supporters are from agricultural states, it’s worth buying more farm produce from them as a reward for Sino-U.S. friendship,” Mei said. One example, said Mei, would be purchasing goods from agricultural states such as Iowa, whose Governor, Terry Branstad, has been named U.S. Ambassador to China and has close connections with Chinese president Xi Jinping. China caps the number of imported films each year under a revenue-sharing deal reached in 2012. The quota, which Hollywood wants to increase from the official number of 34, is scheduled to be reviewed this year.
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