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Ross looking to build trade framework with China

U.S. Commerce Secretary Wilbur Ross plans to return to China early next month to potentially negotiate a framework on trade between the two countries.

U.S. Treasury Secretary Steven Mnuchin (mih-NOO-chin) told CNBC this week Ross would like the visit to result in established agreements between American and Chinese companies.

The friction between the world’s two largest economies was said to be easing after numerous tariff threats were withdrawn, but President Trump tweeted Wednesday “reaching agreement will be too hard to get done” as he downplayed a potential deal happening soon.

Chinese officials have reportedly agreed to buy massive amounts of U.S. agricultural products, which Trump said would be one of the best things to happen to our farmers in many years.

However, details are vague and no official dollar figure has been attached.

The American Soybean Association says it welcomes the possibility and hopes soybean growers will be a part of any solution to increase exports to China.