China has agreed to purchase $40 billion to $50 billion in U.S. agricultural commodities annually for two years as well as remove significant ag trade barriers, a senior Trump administration official told reporters Friday.
The U.S. and China have signed off on a partial, “Phase One,” trade pact that includes a Chinese pledge to buy tens of billions of dollars of U.S. farm commodities, President Donald Trump said Friday.
The Trump administration has reached a tentative trade deal with China, according to news reports that come the same day President Donald Trump tweeted that an agreement was “very close.”
President Donald Trump remains resolute that China commit to specific promises on amounts of U.S. ag commodities that it would buy as part of a trade pact, Ag Secretary Sonny Perdue said Wednesday.
There’s no immediate relief in sight for American farmers, as corn stocks remain large and increased demand for U.S. crops remains elusive, ag economist Dan Basse of AgResource told attendees of the American Seed Trade Association conference in Chicago Tuesday.
Lawmakers are trying to wrap up deals this week on the U.S.-Mexico-Canada Agreement and fiscal 2020 government spending while the Trump administration faces a self-imposed deadline for getting a partial trade agreement with China.
China is going to lift tariffs to allow in more U.S. soybeans and pork, according to Xinhua News, a government-run media outlet, though it's unclear how much of the U.S. commodities will be allowed in, or for how long.
President Donald Trump’s latest claim that he might push back a trade pact with China until after the 2020 elections has unleashed a new wave of uncertainty for America’s farmers who had been counting on promises that a resolution to the trade war was imminent.
A U.S.-China trade deal may not be finalized until late next year after the 2020 elections, President Donald Trump told reporters Tuesday during a visit to London.