Treasury Secretary Steven Mnuchin said this week the Trump administration plans on reviving talks for a bilateral investment treaty with China. That deal would give the U.S. broader access to the Chinese market. Minnesota Farm Bureau President Kevin Paap is pleased they’re working on that because trade is the best solution for low commodity prices.
He says to have success in trade agreements, the U.S. needs to make sure present deals are enforced and that new pacts help increase demand.
Paap says as negotiators work on the bilateral agreement, both tariff and non tariff barriers must be addressed.
Mnuchin says first the administration needs to make progress on a set of specific market access issues such as beef exports, and Chinese rules on biotechnology imports and energy products before turning to the bilateral discussions.
