Up To $250 Billion in U.S.-China Trade Deals By Week's End

November 9, 2017 01:24 PM
 
 

President Donald Trump’s trip to Asia is helping to buffer business deals to buy U.S. goods, including more than $1 billion in beef and pork.

19 business agreements were forged between the U.S. and China, valued at $9 billion.

Trump’s stance on China is appearing to soften compared to the harsh disapproval he voiced during his presidential campaign. At a meeting with Chinese President Xi Jinping, Trump praised China’s trade surplus, saying China wasn’t at fault for “taking advantage” of other countries.

These agreements come amid strained ties between the world’s two biggest economies with Washington accusing Beijing of backsliding on marketing opening promises and unfair trade practices.

The U.S. delegation to Beijing, led by Secretary of Commerce Wilbur Ross, included a number of agricultural, energy, and environmental firms.

“Today’s signings are good examples of how we can productively build up our bilateral trade,” said Ross.

Later this week, the White House is expecting to announce nearly $250 billion in business deals in China, some directly related to U.S. agriculture.

Hear China's pans to buy more protein from the U.S. on AgDay above.

Back to news


RELATED CONTENT

Comments

 
Spell Check

DanB
Independence, MO
11/14/2017 03:03 PM
 

  I agree with Keith. China would buy some beans from us in any case. Much of this claimed trade is not new. How much is not spelled out. It's a feel good, look what I'm bringing home after having the Pacific Fleet accompany me ($) to Asia.

 
 
Jack
Aberdeen, SD
11/9/2017 07:11 PM
 

  Who are the companies and people with trump?

 
 
Keith
Canton, ME
11/10/2017 08:54 AM
 

  That figure is immensely OVERSTATED! According to Reuters, this figure is based on non-binding Memorandums of Intent and so-called deals that had already been made with the previous administration that was simply rolled up into this one. The Chinese are very good at not following through on deals like this. Yeah, they'll buy soybeans out of necessity but only if they feel they are getting a good deal or there's no other source.

 
 

Corn College TV Education Series

2014_Team_Shot_with_Logo

Get nearly 8 hours of educational video with Farm Journal's top agronomists. Produced in the field and neatly organized by topic, from spring prep to post-harvest. Order now!

Markets

Market Data provided by QTInfo.com
Brought to you by Beyer
Close