Commodities were a big casualty of the escalating trade war between the U.S. and China, but are now set to be a major beneficiary of Beijing’s pledge to import more American goods.
Treasury Secretary Steven Mnuchin said Sunday that the United States and China are stepping back from a possible trade war after two days of talks that produced "meaningful progress."
President Donald Trump’s chief Nafta negotiator said the U.S., Canada and Mexico are "nowhere near close to a deal" to update the region’s 24-year-old free-trade pact.
France has taken another step closer to starting beef exports to China’s huge market after Chinese officials last week inspected seven of the European country’s meat plants, a French industry official said.
So far in 2018, the U.S. has exported beef to 100 different countries. However, 85 of those countries only account for 5.9 percent of year to date beef exports.
Beef exports during the first quarter or 2018 have continued (and built upon) the increases seen last year.
President Donald Trump said talks on a revised NAFTA are “doing very nicely” as ministers from the U.S., Mexico and Canada meet in Washington to try to push for an agreement by early May.