Today, USDA released the latest interim report from USDA and USTR on the Phase One China trade agreement. The report notes that “Chapter Three of the Phase One Agreement contains concrete, specific commitments to reduce and eliminate structural, non-tariff barriers to U.S. agriculture in China’s market” for a wide variety of commodities and for biotechnology. To date, China has implemented 50 of the 57 commitments. As for the higher profile provisions of the agreement (Chapter Six, which sets import goals), the report outlines the following:
China has met 71 percent of its purchase goals in agriculture for 2020
The agreement went into effect in February 2020, making March the first full month under the plan, and...
Key Market Insights The broad market is locked in on this week’s Trump-Xi meeting in Beijing, but this is no longer just a trade summit. Increasingly, the meeting is becoming tied directly to Iran, energy security, and the growing global economic fallout from disruptions through the Strai...
