China 'ready to take measures' over United States trade move

Asia markets mostly up after forecast-beating China growth

China is the largest buyer of us sorghum - grown mostly in the rural American South, a region that voted heavily for Trump in the 2016 election.

A preliminary ruling by the Commerce Ministry said US sorghum was being sold at improperly low prices, hurting Chinese farmers.

Bloomberg reported early April 17 the Chinese are moving forward with claims the United States is dumping its grain sorghum into their country. It said importers must post bonds of 178.6 per cent of the value of their goods to cover possible anti-dumping duties while the probe is completed. "Now it will depend on whether actions follow words, and if so how the regulations will be shaped", said the ministry in a statement.

"The rate is quite high and some buyers may have to cancel shipments", said Li Qiang, chief analyst with Shanghai JC Intelligence Co.

It said the investigation had found Chinese imports of sorghum had increased 14-fold in the five years from 2013 even as the price for the commodity fell 31 percent.

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The Wall Street Journal notes, "U.S. sorghum exports to China peaked at $2 billion in 2015 and have averaged almost a $1 billion a year over the past two years, according to official USA data". Purchases in the first two months of 2018 were 11 percent lower than a year earlier. China is the biggest buyer of USA soybeans. None of this information appears to have been seriously considered or used in today's preliminary determination, which is neither fair nor appropriate.

China raised its treasuries holdings by 8.5 billion U.S. dollars to 1.1767 trillion dollars in February, said the U.S. Treasury Department on Monday.

"We continue to greatly value our Chinese customers and what has been a win-win business relationship between USA sorghum producers and our Chinese partners".

As U.S. President Donald Trump is taking a tough stance against China on trade, investors are keeping a close eye on China's holdings of the U.S. treasuries.

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