Trump's hailing of $50 billion in Chinese farm purchases seen as 'meaningless'
- Outlining the first phase of a deal to end a trade war with China, U.S. President Donald Trump on Friday lauded his counterparts for agreeing to make purchases of $40 billion to $50 billion in U.S. agricultural goods. That would be double the $24 billion China spent on American farm goods in 2017. But Darin Friedrichs, senior Asia commodity analyst at brokerage INTL FCStone in Shanghai, threw cold water on the pledge. “I think it’s a meaningless big number, thrown out to get headlines, and won’t happen,” Friedrichs told Reuters.