Exports to China surging, but still short of goal
China is pushing closer to meeting the goals of the Phase 1 trade deal with the United States after a surge of commodity purchases beginning in August, Iowa State University (ISU) Extension economist Wendong Zhang said last week during ISU’s Pro Ag Outlook series.
China bought $4.8 billion of U.S. ag products in October, a three-fold increase over the previous year and substantially above the Phase 1 base year of 2017, according to U.S. Department of Agriculture trade statistics.
In late October, the U.S. Trade Representative calculated that China had purchased $23.6 billion in U.S. ag products this year, reaching 71% of its target in the Phase 1 trade deal and on pace to shatter previous...
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