As large Chinese purchases of soybeans continue to roll in while rumors of a broken relationship abound, U.S. Trade Representative Robert Lighthizer assured farmers on Wednesday that the deal is still intact.
The President signed USMCA Wednesday, which completed the ratification process in the U.S. However, even if Canada passes USMCA early next month, experts say it could take months to implement the deal.
President Trump hopes to sign a trade deal to open more agricultural and industrial opportunities with India shortly after the conclusion of the Senate impeachment trial, according to Pro Farmer’s Jim Wiesemeyer.
With the phase one trade deal with China official, farmers are expecting more positive momentum in the markets. However, they shouldn’t expect an extension of the MFP, according to USDA Secretary Sonny Perdue.
The Phase One trade agreement with China comes with a big promise to purchase close to $40 billion worth of U.S. agricultural products over the next two years. Does this mean the trade war is over? Economists weigh in.