China Phase 'Two': What We Know Right Now
China has committed to purchasing at least 87 million tons of soybeans over three years.
The Vice President of Public Policy and Economic Analysis notes that trade policy decisions will impact farmers and ranchers.
- The Deal on Economic and Trade Relations with China includes agricultural-related provisions.
- These provisions are similar to the 2020 Phase One deal, which resulted in over $60 billion in agricultural exports.
Trade policy decisions made by the administration will impact farmers and ranchers in the countryside.
Historically, U.S. agricultural exports to China have grown from $2.6 billion in 2000 to a record $28 billion in 2012.
Author's summary: China commits to massive soybean purchase.
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