China will be huge for U.S. beef. That’s the conclusion of U.S. negotiators and the U.S. cattle industry, but it’s going to take a lot of work to get there and the Chinese will have to come through on major promises over the next two months that were made in the “phase one” deal that was signed last week in the White House.
Agriculture Secretary Sonny Perdue is promising farmers that his department will play a key role in enforcing China's pledges to purchase $80 billion in U.S. agricultural commodities over the next two years.
China should be buying wheat, corn and rice from the U.S. as a result of the "phase one" trade deal and tariffs will not hamper those sales, Gregg Doud, chief agricultural negotiator with the office of the U.S. Trade Representative said Friday.
The Senate overwhelmingly passed the Trump administration’s revision of the North American trade pact with Canada and Mexico, sending the deal to the White House where the president has said he may sign it in a grand ceremony next week.
China has committed to buy at least $80 billion in U.S. farm products over the next two years and the country also agreed to sweeping structural changes that promise to improve trade on a more permanent basis for U.S. beef, pork, rice, corn, wheat, soybeans and other commodities.
The U.S.-Mexico-Canada Agreement is headed for easy approval on the Senate floor, but the uncertainty surrounding the impeachment process could mean farmers and ranchers will have to wait several more weeks for that final congressional vote.