The White House announced this week that President Trump has secured “historic trade deals with China” after his visit last week with President Xi.
The administration claims China has agreed to increase its imports of U.S. agricultural products to at least $17 billion annually through 2028. Chinese officials have yet to confirm which products would be purchased but did recognize there is a deal.
Transcript
The White House announced this week that President Trump has secured “historic trade deals with China” after his visit last week with President Xi.
The administration claims China has agreed to increase its imports of U.S. agricultural products to at least $17 billion annually through 2028. Chinese officials have yet to confirm which products would be purchased but did recognize there is a deal.
According to the White House, officials with the world’s 2nd largest economy restored market access to 400 U.S. beef processors by renewing expired registrations and added some additional facilities to the list of approved providers. China also resumed imports of U.S. poultry after the USDA certified those products as free of avian influenza.
The summit reaffirmed purchases of soybeans already confirmed after Trump and Xi struck a truce last fall in the current trade war but no additional purchases have been verified.
In addition, both countries have agreed to establish a “board of trade” to manage commerce in non-sensitive sectors.
For Market to Market, I’m Laurel Bower.
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