The United States pork industry is optimistic about trade with China with several positive developments. The latest is China will reduce tariffs on 850 U.S. products including frozen pork on January 1. The U.S. has also published a formal notice in the Federal Register suspending the December 15 tariffs on Chinese imports as part of the Phase One trade deal. Nebraska Pork Producers Association President Tim Chancellor says that’s great news for pork producers.
President Trump says the Phase One deal is completed and will be signed in early January. Chancellor looks forward to more details being released on the $40 billion of purchases China will make.
Chancellor says China dropping their massive retaliatory tariffs on U.S. pork will help reopen that market.
Treasury Secretary Steven Mnuchin says details of the Phase One China deal will be released in early January.
