Washington Week Ahead: China, US to Sign Trade Deal, USMCA Likely Delayed
By Philip Brasher, Executive Editor Agri-Pulse
via Hoosier Ag Today - Jan 12, 2020
Chinese Vice Premier Liu He is set to sign a landmark, partial trade deal in Washington this week that could be crucial to reviving a farm economy that has been dependent on an infusion of government payments to offset the damage from the U.S.-China trade war.
The details of the “phase one” agreement had not been released ahead of the signing of the agreement, scheduled for Wednesday. But Trump administration officials say that China will commit to purchasing at least $40 billion a year in a full range of U.S. farm commodities, up from the $24 billion the Chinese had been buying before the trade war began in 2018.
“It’s pretty much all for the farmers,” President Donald Trump said last week of the partial agreement.
U.S. farm groups are eagerly waiting more details of what is in the deal.
“There’s been a lot of talk, but nobody has actually … said what’s in the agreement,” said Steve Mercer, a spokesman for the U.S. Wheat Associates. “That’s what we’re hoping to see.”
Gregg Doud, the administration’s chief agricultural trade negotiator, told Agri-Pulse...
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