Chinese and U.S. trade negotiators are scheduled to meet in October to take up trade resolution talks. American Soybean Association Vice President Bill Gordon who farms near Worthington, Minnesota says the U.S. getting a trade pact with Japan in principle and working to bring up the USMCA for ratification likely spurred China to the negotiating table.
He says getting the agreement with Canada and Mexico finalized is the stepping stone to completing the trade deal with Japan which then helps with talks with China.
Gordon says finalizing an agreement with China is critical because it’s such a huge market but the deal must be a good one.
Gordon says successful and positive trade pacts are essential for the U.S. ag economy as many farmers are already facing pressure on operating loans and falling behind.
