china phase one

Announced China Ag Purchases Lack Details

Dan Exports/Imports, Industry News Release, Trade

agAgriculture eagerly awaits any details regarding increased purchases of U.S. ag products by China. President Trump over the weekend said following a discussion with China that the nation “will be buying massive amounts of product from us,” promising an “incredibly positive impact on farming.”

Politico reports, however, there is no guarantee China will hold its end of the bargain, as China’s statement on the talks made no mention of ag products. There are also little details in the announcement from Trump as the quantities and specific products are undetermined, though the White House says the purchases will begin “immediately.”

The U.S. Meat Export Council called China’s willingness to return to the negotiating table encouraging, but added that “exports cannot reach their full potential until the retaliatory duties imposed by Mexico, China and Canada are removed.”

Trump also signed his North American Free Trade Agreement replacement on Friday that does not address steel and aluminum tariffs on Canada and Mexico, which both have retaliatory tariffs in place over.

Source: National Association of Farm Broadcasting News Service.