phase one trade deal

Perdue on China Phase One Trade Deal

Taylor Hillman Trade

phase one trade deal

Last week, President Trump did sign the first phase of a trade deal with China that includes the purchase of $40 billion in agricultural products. Agriculture Secretary Sonny Perdue says this agreement goes a long way in leveling the playing field for U.S. agriculture.

“This agreement once again is proof President Trump’s negotiating strategy is working. It may have taken China a long time to realize President Trump was serious, but this China Phase One Deal is a huge success for the entire economy, especially our ag economy. The agreement finally goes a long way toward leveling the playing field for U.S. agriculture and I believe it will be a real bonanza for America’s farmers, ranchers, and producers. We all know that China has not played by the rules for a long, long time and I want to personally thank President Trump for standing up to their unfair trading practices and for putting America first, especially American farmers. And we look forward to fulfilling those hungry Chinese customers for American products.”

The Phase One agreement also includes a commitment by China that it will make substantial additional purchases of U.S. goods and services in the coming years. And it establishes a strong dispute resolution system that ensures prompt and effective implementation and enforcement.