A date has been set for the signing of the Phase One trade deal between the United States and China. President Trump tweeted on Tuesday that the agreement would be signed in the White House on January 15. Not many specifics have been made public yet except that as far as agricultural products the deal commits China to make $80 billion for 2020 and 2021.
Ag Department Chief Economist Rob Johansson says $40 billion a year might seem like an insurmountable amount, but it’s not out of the realm of possibility.
American Soybean Association President Bill Gordon says they welcome an end to the trade war and hope China follows through on the purchases.
However, Gordon says they’re just excited to just have an end to the trade war with their once largest customer.
Farmers await details of the purchase amounts per commodity but remain hopeful for all sectors.
