While Short Of Expectations, USDA Encouraged About Phase One

"I believe it will be a real bonanza for America's farmers, ranchers, and producers," Ag Secretary Sonny Perdue said back in January 2020, at the signing of the Phase One trade agreement with China.

Under that agreement, China agreed to purchase roughly $34 billion dollars worth of American  Ag products during the first year of the agreement. But then COVID-19 hit, China, then then world, slowing down the pace of sales and shipments early in the year.

"But we have seen sales picking up dramatically. Total sales right now estimated for 2020 at $27 billion," noted USDA Chief Economist, Rob Johannson.

And while that is lower than the agreed to amount. "[It was] primarily attributable to COVID slowing down the economies. In 2021 we expect, you know, a continued increase in pace of exports," he continued.

Johannson described the growing demand of American farm products in China as very good and likely to continue.

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