Phase One Ag Targets Lag, But US Soybean And Corn Exports To China Surge
From Farm Policy News
Last week, Bloomberg News reported that, “China is far away from meeting its U.S. trade-deal commitments, with the latest data showing it’s imported just over half of the American goods it promised to buy in the first year of the phase-one agreement.
In the first 11 months of the year, China purchased about 50.5% of the total 2020 target of $172 billion, according to Bloomberg calculations based on figures from the nation’s Customs Administration. The trade pact was signed between the two countries on Jan. 15.
The Bloomberg article added that, “As of the end of November, China purchased 54.1% of targeted manufactured products, 52.9% of agricultural goods and 31.1% of energy products.”