GM crops still remain pointy end to US-China trade deal

by   |  VIEW 217
GM crops still remain pointy end to US-China trade deal

In the recent leg of Sino-US trade talk, which had still been continuing through a video conference, the genetically modified crops had remained a pointy end for a Sino-US trade deal, as the United States had been urging China to reduce its lengthy approval process of genetically modified foods, at least two sources familiar with the talks revealed on Tuesday, the 9th of April 2019.

China traditionally took years to approve any new strain of genetically modified crops, while China’s agricultural authority had frequently been asked to take initiatives for reducing the time-frame, as the time-consuming approval process had been stalling trades of new products of larger US companies such as DowDuPont Inc., Syngenta AG and Bayer AG.

The issue had also been a center of the trade dispute between US and China, apart from forced intellectual property transfer rights and a Chinese financial policy reform for the foreign companies, as US President Donald Trump had repeatedly argued on China’s intent to reach a favorable trade deal.

Besides, the American president with a mandate of “America First” policy had also declared that he would not be accepting anything less than a “great deal”. Although one of the sources had been quoted saying that the approval process of GM products had still been a “big issue” in the discussions, last week the US President Donald Trump had said that he expected to reach a trade deal with China within next four months, citing optimism over the progress of recent round of tentative trade talks.