USDA economist says 80-billion in ag sales to China possible
The USDA’s chief economist says the expected 80-billion dollars’ worth of agricultural purchases by the Chinese as part of the phase-one trade deals are within the realm of possibility. Rob Johansson says 40-billion dollar a year over two years is not much more than what China used to buy from the U.S. “In previous years, China has purchased almost 25-billion from us, so they’re committing to purchase that 25-billion plus an additional 15-billion in each of the next two years totaling 80-billion (in) purchases.”
The USDA says the reduction of tariffs plus structural changes in how China manages imports should help boost ag sales to China, but the details about China’s structural changes have not been made public yet.
Johansson’s analysis matches what Shanghai JC Intelligence experts said earlier in December, when they predicted additional purchases of sorghum, corn, wheat, pork, and poultry products.
President Trump tweeted Tuesday the phase-one trade deal with China will be signed at the White House on January 15th.