Source: Chuck Abbott, SUCCESSFUL FARMING, 4/29/20


The “phase one” agreement that de-escalated the China-U.S. trade war calls for China to greatly expand its purchases of U.S. food, agricultural and seafood products this year and in 2021. Former USDA chief economist Joe Glauber said on Tuesday that China will have to accelerate sharply its purchases to meet that goal. “I think we will be lucky to get the 2017 level of sales,” said Glauber during a farmdoc Daily webinar. In February, the USDA forecast agricultural exports of $14 billion to China this fiscal year. The “phase one” agreement considers the 2017 “baseline” for sales to be $24 billion.

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