Trump, China reach preliminary trade agreements on beef, poultry

Remigio Civitarese
Mag 24, 2017

(NCBA) president Craig Uden lauded the news, saying, "After being locked out of the world's largest market for 13 years, we strongly welcome the announcement that an agreement has been made to restore USA beef exports to China".

That the outstanding issues for the import of China origin cooked poultry to the U.S. will be resolved as soon as possible.

It also suggests still wider room for compromise. Not a breakthrough The US trade deficit with China was $347 billion a year ago.

Sign up for the online chat with Col. Brandon Pearce, NGA's chief information security officer, May 15, 12:30 p.m. "The more beef we can export ... will certainly have a positive effect on cattle prices funneled all the way down to North Dakota feeder calves".

The deal also fast-tracks USA approval of Chinese poultry imports and gives Chinese banks more access to the US market.

In 2016, the Governor led a trade mission to China to share the story of Nebraska beef with potential customers in anticipation of the market re-opening.

Close watchers of the US-China relationship quickly raised questions about the deal, pointing out that most of Beijing's key promises had been made before or were in line with China's existing worldwide commitments.

The two countries will hold high- level talks this summer to be led by Mr Ross, Treasury Secretary Steven Mnuchin and China's Vice-Premier Wang Yang, to work on a longer, one-year plan aimed at addressing USA trade concerns.

The total amount of U.S. LNG that has so far been shipped to China is just over 0.6 million tonnes, or 1.4 billion cubic meters.

Nebraska Department of Agriculture International Trade Director Stan Garbacz will visit China next week to lobby for Nebraska beef. More importantly, over the 16 years since it joined the WTO it has established a de facto state-controlled monopoly over the renminbi clearing market.

Yet beef exports alone will do little to fill the trade gap.

Last year, the trade deficit with China reached $347 billion showed figures from the U.S. Treasury. The move would allow China to diversify its supply and provide a significant market for American suppliers - though the expansion could boost prices for US consumers.

"After pushing the president to stand up for our ranchers, I'm encouraged that China has agreed to open up its market to our high-quality beef", Heitkamp said Friday in a news release.

Beijing had announced an end to a 14-year embargo on American beef last year, but the decision has yet to be implemented.

Kohls added Chinese consumers are interested in certain cuts that Americans don't eat, like tongue and intestines.

Under the agreement, China will allow us beef exports to go directly to the country for the first time since 2003.

With China's sky-high population, Miller said exporting beef bodes well for American ranchers. The main focus was on commodities, investments and energy, such as beef and natural gas, with one provision aimed at bolstering electronic payment services.

Tyson Foods Inc, Cargill Inc and JBS are among the biggest exporters of US meat.

Chinese officials lavishly praised their US counterparts over Friday's deal, saying the agreement resulted from "intimate" cooperation.

While Ross called it a "herculean" accomplishment to find agreement between the countries in the initial 10 areas, he promised more deals would be coming.

"The U.S. economy is not fundamentally based on Wall Street and farms, it's based on advanced industries".

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