China has opened the door to imports of rice from the United States for the first time ever in what analysts took to signal a warming of relations between the world’s two biggest economies after a frosty year marked by tensions and tit-for-tat tariffs....MORE
The green light from Chinese customs, indicated in a statement posted on the customs authority’s website on Friday, comes in the run-up to talks between the countries in January after U.S. President Donald Trump and Chinese President Xi Jinping agreed to a moratorium on higher tariffs that would affect trade worth hundred of billions of dollars.
It was not immediately clear how much rice China, which sources rice imports from within Asia, might seek to buy from the United States. But the move, which comes after years of talks on the matter, follows pledges from China’s commerce ministry of further U.S. trade openings earlier this week.
“I wouldn’t be surprised to see importers trying to move rice into China from California but I don’t know if it will be in breathtaking quantities right away,” said Stuart Hoetger, an analyst and physical rice trader based in California....
Not much response from the U.S. futures