China said to propose purchasing $30 billion more in US agricultural products
- China could buy an additional $30 billion a year of US agricultural products
- That includes soybeans, corn and wheat
- The offer would be part of the memorandum of understanding
- These purchases would be on top of pre-trade war levels
While all of this sounds good on paper, it's pretty much the "easy way out" to come to an agreement. Let's see if China will agree to the more sensitive issues like a currency pledge to not weaken the yuan. Should the memorandum of understanding cover that, then it's likely we'll see markets start to take up more of a positive mood.