An economist with the American Farm Bureau Federation says that china is not far from the pace needed to reach their commitments under the Phase One trade agreement.
Nearly $18 billion dollars worth of products have been exported so far this year. The Farm Bureau says that is almost a 120 percent increase.
“We believe the cumulative exports to China needs to be about $20 billion, at this point, in January through August. So, that means they’re only 12 percent behind where they need to be in order to reach the 2021 total value,” senior economist Veronica Nigh states.
She says that exports are still strong despite challenges like hurricane damage along the Gulf Coast.
Related:
How Phase One trade is stacking up in 2021, in terms of U.S. beef
Ag groups push to stay on course with Phase One deal
Biofuels, grains, dairy could help China meet Phase One commitments, according to Ag Secretary
AFBF on what went right and what went wrong with the Phase One trade deal