China's Commerce Ministry said on Friday it was halting its anti-dumping investigation into imports of sorghum from the United States, saying measures it imposed would affect consumers and were not in line with the public interest.
In return, China is asking the USA to set aside tariffs and investment restrictions it has threatened against Chinese companies, the report said.
The probe had also sparked fears among American farmers that they would lose their largest export market for the crop.
In the middle of its investigation, the ministry concluded that, "Anti-dumping and countervailing measures towards imported sorghum originating in the United States 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.
The two countries have not yet implemented their tariff increases to reach a negotiated settlement.
The US shipped 4.8 million tons of sorghum to China a year ago, compared with 317,000 tons in 2013. Preliminary antidumping tariffs of 178.6 percent on the crop, which is used primarily for animal feed and liquor, took effect on April 18.
Yet the average price per ton dropped 31 percent during the same period, which also caused a steep decline in prices of Chinese sorghum.
Toshiba receives China antitrust approval to sell memory unit
There were fears that the deal would not go ahead as it is taking place during trade tension between China and United States. Sources with knowledge of the matter told Reuters on Tuesday that there had yet to be any concrete breakthrough in China.
Last week, US President Donald Trump said he was working with Xi to help Chinese phone maker ZTE, which had been barred from importing US technology after having admitted to illegally shipping equipment to North Korea and Iran. However, China's Foreign Ministry said this was "not true". "We are now saved", said a private sorghum trader who had over 600 tonnes of USA sorghum stranded at a Chinese port. "The next US sorghum crop will be harvested in August", Houe said.
The Chinese offer comes in response to a request by a high-level American trade delegation to Beijing in early May that China reduce the trade deficit, which hit $375.2 billion past year, by $200 billion. China vowed to retaliate, targeting American exports worth $50 billion.
The announcement was a possible sign Beijing is willing to make a deal with Washington, amid talks between senior U.S. and Chinese officials aimed at averting a trade war between the world's two biggest economies. The news brought some unexpected relief to Chinese buyers who still had cargoes stuck at ports.
Earlier on Friday, China announced that it was ending its sorghum investigation, which had effectively halted a trade worth roughly $1.1 billion previous year.
The Wall Street Journal reported earlier this week that the two sides were closing in on a deal to relax restrictions on Chinese telecoms equipment maker ZTE in return for China removing tariffs on US agricultural products and easing roadblocks faced by USA semiconductor company Qualcomm.
"China has taught a lesson to the United States and showed how it can hurt USA exports", said Ole Houe, director of advisory services at brokerage Chinese Vice Premier Liu Hein Sydney. "We just can't do that anymore", he said.
Mourinho also signed Willian to Chelsea back in 2013 and wants to reunite with the 29-year-old attacker at United this time. Lingard has an FA Cup final winning goal as well as further strikes in the Community Shield and League Cup final on his CV.
The Scottish government outlawed fracking a year ago after a public consultation found overwhelming opposition to it. And fracking in widely used in the United States , where it has revolutionised the energy industry.
Mark Scheifele scored both of Winnipeg's goals and has a playoff-leading 14 goals in 15 postseason games. Neal returned to score a goal and set up another in the second period for the expansion Golden Knights.
Many Palestinians injured by Israeli fire in clashes along the Gaza-Israel border have been received by Egypt. Sisi's Twitter account said the opening of the crossing would "alleviate the burdens of brothers in Gaza".
The new features and benefits offered by Google One certainly make their cloud storage services stand out from main competitors. Last change in Google's storage plan took place in 2014; they did so after Dropbox reduced price of their storage plans.
Despite relegation to League One, Sunderland still received more than £41 million in parachute payments from the Premier League. The England global kept Stoke in many games this season, and looks a certainty to be in Gareth Southgate's World Cup squad.
Leishman made the turn in four-under before reeling off three successive birdies on the 10th, 11th and 12th holes. Randolph finished his day tied for 120th at 1 over; Marc Leishman is in 1st at 10 under; Jimmy Walker and J.J.
The CDC suggests that recreational water needs to be cleaned better and the people who jump in also need to be more clean. This parasite can be transmitted in the water during diarrhea , and that is likely how the pools got infected.
However, it is not known when he would fit filming into his schedule, as he already has a number of films on his plate. As for DiCaprio, he was last seen in The Revenant which finally had him bring home his coveted Oscar.
New US sanctions would be a significant blow for European companies that actively went to the Iranian market after 2015. They include retaliatory sanctions and allowing the European Investment Bank to invest directly in Iran.
Evidence of Planet Nine Possibly Found
The claim led to scientists searching for this theorized planet that is thought to have about ten times the mass of Earth. A new paper reinforces the theory that a ninth planet exists in the outer solar system, beyond the orbit of Neptune.
Android Go Powered Nokia 1 Gets its First Price Cut
The focal point here is that the company is willing to launch the Nokia X6 globally, and India could be one of the countries. There is also a notch on the display , which is the reason why the smartphone has a taller aspect ratio.
'Zero concern' as James says Cavs will bounce back
We're absolutely OK with that. "And we're going to take those same looks going into Game 2 if the opportunity presents itself". Morris was inserted into the starting lineup and drew the defensive assignment on LeBron to begin the game .
Volcano explosively erupts in Hawaii
More than 2,000 residents of the Big Island remain under mandatory evacuation as Kilauea continues to threaten nearby communities. The masks do not protect against sulfur dioxide, a toxic gas that is still seeping from 21 fissures caused by volcanic activity.
Canada willing to cover some of KM's pipeline losses
Goodman Financial Corp acquired a new position in Kinder Morgan during the 4th quarter worth approximately $126,000. Sources have indicated Ottawa is looking at loan guarantees, a bailout or taking a stake in the pipeline project.