The American Farm Bureau Federation says China has been a boon to U.S. farm commodity prices for several months. Now the organization is hopeful President Biden’s Ag and trade teams follow through and preserve the Trump Phase I deal and consider a Phase II agreement. AFBF trade adviser Dave Salmonsen said the Biden transition team was already addressing the China Phase I deal before Inauguration Day.
“A lot of desire to move away from the tariffs that were put on China. And the answer has been, they’ll evaluate all of that, they’ll evaluate the Phase I agreement going forward, the tariffs. So, there’s a lot of talk, things will stay pretty much, the same with China, maybe, different tactics.”
But Salmonsen said, so far, the deal obtained with tariff pressure has helped American farmers, despite tensions with China on other fronts.
“We’ve seen, especially this fall, the sharply increased sales for a variety of products to China, and the effect on prices that farmers receive. So, we want to see the Phase I commitments for purchases that run through 2021, we want to see those completed,” Salmonsen continued.
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