China retreats from U.S. sorghum probe amid global market havoc

China retreats from U.S. sorghum probe amid global market havoc

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China retreats from U.S. sorghum probe amid global market havoc

China retreats from U.S. sorghum probe amid global market havoc

China retreats from U.S. sorghum probe amid global market havoc. China dropped its anti-dumping probe into imports of U.S. sorghum on Friday, beating a hasty retreat from a dispute that wreaked chaos across the global grain market and raised concerns about rising costs and financial damage at home. The move was seen as a goodwill concession as Chinese Vice Premier Liu He was in Washington for talks aimed at resolving trade tensions between the world’s two largest economies

 

The end of the investigation came as a huge relief to U.S. sorghum growers, who saw sales to the top grain buyer come to a halt and prices plummet over the past month.

But U.S. farmers and traders said they remained worried that China might still implement restrictions and tariffs on other agricultural products such as soybeans, corn and cotton.

Tensions between the nations have climbed. U.S. President Donald Trump has threatened to impose up to $150 billion in punitive tariffs to lower trade deficits and combat what he calls Beijing’s misappropriation of American technology.

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