Treasury Secretary Steven Mnuchin says the U.S. Chinese trade war is on hold. In discussions over the weekend, negotiators from the two countries met and agreed to suspend tariffs on each other’s goods while trade talks continue. Mnuchin says if the negotiations aren’t successful, however, the president can still put the tariffs back on. Nebraska Pork Producers Association Executive Director Al Juhnke says they are pleased with the development.
He says it’s positive a trade war has been averted and the tariffs are scheduled to be lifted, so the U.S. can continue supplying the Chinese market with the pork they need and want.
Juhnke says the 25-percent Chinese tariffs have been costly to U.S pork producers.
Mnuchin says the U.S. expects to see an increase of between 35 to 40-percent in agricultural exports to China in this year alone and a doubling of energy exports over the next several years.
