Farm Groups Welcome Phase One Agreement

Agriculture groups welcome the new trade agreement with China. The U.S. Grains Council says the agreement should reduce continued market uncertainty and incentivize China to purchase significant amounts of the full range of U.S. agricultural products, to total at least $80 billion over the next two years. Growth Energy CEO Emily Skor says the signing is ”another positive step towards restoring market confidence for U.S. biofuel producers.” In 2016, China was the third-largest export market for U.S. biofuels, but exports were nearly eliminated due to retaliatory tariffs and trade negotiations. The National Cattlemen’s Beef Association calls the agreement a “game-changer.” NCBA President Jennifer Houston says the removal of trade barriers included in the agreement “gives Chinese consumers access to the U.S. beef they desire.” The National Pork Producers Council applauded the agreement, as well, saying pork producers are “ideally positioned to address this unprecedented sales opportunity for pork in China.” However, NPPC urged the removal of the 60 percent punitive tariffs on U.S. pork to “fully capture the benefits” of the agreement.