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Trump: China agrees to buy massive amount of ag products

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President Donald Trump was lighting up Twitter Monday morning, announcing China has agreed to buy “massive amounts” of  additional U.S. farm and agricultural products. The announcement comes just days after the administration said the trade war with China was on hold.

Last week, the two countries engaged in constructive consultations regarding trade in Washington, D.C. The United States delegation included Secretary of the Treasury Steven T. Mnuchin, Secretary of Commerce Wilbur L. Ross, and United States Trade Representative Robert E. Lighthizer. The Chinese delegation was led by State Council Vice Premier Liu He, Special Envoy of President Xi.

Following the meeting, the White House released a joint statement with China, saying there was a consensus on taking effective measures to substantially reduce the United States trade deficit in goods with China.

The statement said to meet the growing consumption needs of the Chinese people and the need for high-quality economic development, China will significantly increase purchases of United States goods and services. Both sides agreed on meaningful increases in United States agriculture and energy exports and that the United States will send a team to China to work out the details.

In another tweet, President Trump questioned why President Obama and the Democrats hadn’t fixed trade issues with China previously.

Past communication with China aside, Trump promised this new deal will have the country buying as many ag products as U.S. farmers can produce.

Tags: Ag News, Farm News, Trade, Agribusiness
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