China Trade Agreement Agriculture

“The United States and China have signed an agreement to end the trade war that has weighed on the global economy for nearly two years, while bringing tariffs into effect on hundreds of billions of dollars of Chinese imports,” Financial Times author James Politi reported Wednesday. The agriculture chapter addresses structural barriers to trade and will support a dramatic expansion of U.S. food, agricultural and seafood exports, increase U.S. farm and fishery incomes, generate more rural activity, and boost job growth. A large number of non-tariff barriers to U.S. agriculture and seafood products are addressed, including meat and poultry, seafood, rice, dairy products, infant formula, horticultural products, animal feed and feed additives, pet food, and agricultural biotechnology products. China bought $8.7 billion worth of agricultural goods in the first half of 2020, which meet only 24 percent of this year`s purchase obligation, according to data from China Customs and the Peterson Institute for International Economics. While U.S. agricultural exports fell to $US 142.7 billion between 2017 and 2019, a 5 percent decline, they fell 10 percent in South Dakota and 6 percent in North Dakota. Before the trade war, soybeans accounted for one-third of South Dakota`s agricultural exports and one-quarter of North Dakota`s agricultural exports in 2017.

WASHINGTON (Reuters) – China has significantly increased purchases of U.S. agricultural goods and implemented 50 out of 57 technical commitments aimed at removing structural barriers to U.S. imports since the two nations signed a trade deal in January, the U.S. administration said on Friday. “I feel worse today than I did before the trade war,” Says Stafslien, “and I don`t see an end in sight.” The deal defused a bitter trade war between the world`s two largest economies, but disputes over human rights, the COVID-19 crisis and technology have weighed on relations between Washington and Beijing and raised doubts about the prospects for deepening the deal into a second phase. Ahead of two congressional hearings, farm groups and farm industry interests on Tuesday appealed to President Donald Trump to give the Chinese time to keep their promises to increase U.S. purchases.