After tweeting Saturday that he was skeptical China would give into his trade demands, U.S. President Donald Trump may be about to be surprised with American beef, grain and financial firms all being offered better access to Chinese markets, according to a report.
Chinese officials who spoke to the Financial Times said that President Xi Jinping is offering to lift China’s 13-year-long ban on U.S. beef and buy more American grain and agricultural products. That comes alongside an offer to increase the stake that American financial firms can hold in Chinese insurance and financial asset companies.
This opening up of China’s market follows President Trump’s two-day summit with President Xi at his Mar-a-Lago club in Florida last week. And although many aspects of these offers were in the works before Trump took office, trade experts say they represent a win for his administration.
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