“When Chinese people's aspiration for a better life meets U.S. quality agricultural products and advanced agricultural technologies, new potential emerges for agricultural cooperation." Qin said, “the agricultural low-carbon and green transition could provide new opportunities to US-China cooperation."

"Even affected by the additional tariffs and the distressed global industrial and supply chains, Sino-US trade surged by almost 30% year-on-year [in 2021]. That showed trade demand between the two countries has become even stronger," said Liu from the Chongyang Institute for Financial Studies of Renmin University of China in Beijing. 

Chinese foreign trade in goods reached $1.48 trillion in the first quarter, up 10.7% year-on-year, according to the General Administration of Customs of China showed on April 11th. Trade with the U.S. reached $185.53 billion during the first three months, increasing 9.9% from a year ago.

Global Growth Forecast Decline

The International Monetary Fund (IMF) slashed the global growth forecast for 2022 to 3.6% on Tuesday, 0.8% lower than the January projection, according to its newly released World Economic Outlook (WEO) report. The Chinese economy is expected to grow 4.4% this year, 0.4% lower than the previous projection, as shown in the WEO report.

Chinese imports of livestock products amounted to $7.82 billion, a year-on-year decrease of 7.0%, according to the latest data from January to February 2022. In contrast to pork and beef, mutton imports increased significantly. In the first two months of 2022, China imported 65,000 metric tons of mutton, a year-on-year increase of 33.0%.

Read More: Chinese ambassador stresses the significance of agricultural cooperation between the U.S. and China