U.S. President Donald Trump and China’s Vice Premier signed the phase one trade agreement between the two nations Wednesday in Washington D.C. U.S. Grains Council President and CEO Ryan Legrand attended the ceremony and says the deal has both near term and long-term benefits for America’s farmers and ranchers.
with China agreeing to purchase $80 billion of U.S. ag commodities over the next two years. However, ending the trade war is huge.
Legrand says the phase one deal also contains some major reforms that will benefit long term trade.
He says the U.S. and China will work out the remaining issues in phase two with the eventual goal of dropping tariffs.
Legrand says China also agreed to purchase distillers dried grains with solubles and ethanol as part of the pact.
