American Soybean Association leaders are pleased with the announcement that the U.S. Chinese trade war has been suspended. Treasury Secretary Steven Mnuchin says following the weekend meeting of negotiators, the two countries decided to end tariffs on each other’s goods while talks continue. ASA Board member Kevin Scott is hoping this will lead to better trade relations with China.
The Treasury Secretary did say that if negotiations aren’t successful going forward, the president can still put the tariffs back on. Scott says as the talks advance, it’s important to keep the lines of communication open, as well as build on the positive trade relationships already established.
Scott says the pressure ASA and other ag groups put on the administration that contributed to this positive trade development.
Scott says ASA will keep on top of the negotiations going forward and provide input when necessary.
