After back-and-forth trade wrangling President Donald Trump and Chinese President Xi Jinping called a halt on new tariffs with the hope of productive trade talks set to start this week in Shanghai.
Agriculture is watching.
“All eyes will be on this week’s trade negotiations in China because reopening the door to one of the largest markets in the world is key to helping farmers get back on their feet,” said Zippy Duvall, American Farm Bureau Federation president. “We wholly support the Administration’s efforts to stop unfair trade practices by China. Now, it’s time to write the next chapter in our trade relationship by eliminating tariff barriers.
“American agriculture can compete with anyone in the world on a level playing field. I hope this week’s talks create that opportunity.”
From 2017 to 2018, U.S. agricultural exports to China fell more than 50%, dropping to $9.1 billion. In 2014, U.S. agricultural exports to China exceeded $24 billion. From 2000 to 2017, U.S. agricultural exports to China increased by 700%.