Source: Chuck Abbott, SUCCESSFUL FARMING, 11/13/20


While China may not meet the first-year target under the “phase one” trade agreement, it is buying huge amounts of U.S. food, agriculture, and seafood products that could total $31 billion over 12 months, said Iowa State economist Wendong Zhang at a farm conference on Thursday. Neither Zhang nor Ohio State professor Ian Sheldon said they expected the Biden administration to roll back U.S. tariffs on China in the near term. The “phase one” agreement, signed in mid-January, obliged China to import $36.6 billion worth of U.S. food and ag products this year.

For more of this story, click here.