U.S. outlines plans for China talks
The Biden administration plans to begin talks with China regarding commitments “that we must enforce” in the U.S.-China Phase 1 trade agreement, U.S. Trade representative Katherine Tai said last week.
The Phase 1 deal “has stabilized the market, especially for U.S. agricultural exports,” Tai said.
Agriculture has fared better under the Phase 1 trade deal than most other industries, but China is still short of its commitments to purchase more than $77 billion in U.S. agricultural commodities over two years. The U.S. exported $27.2 billion to China in 2020, below the commitment of $34 billion, according to the American Farm Bureau Federation....
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