America and China have just announced Phase 1 of a new economic-trade deal that seeks to “put a floor under further deterioration of the bilateral relationship.” According to Craig Allen, US-China Business Council President, this move is “very encouraging.” US Chamber of Commerce’s EVP and Head of International Affairs Myron Brilliant said that it “creates clarity for businesses and provides a lift for American consumers during the holiday season.”
And as Zippy Duvall, President of the American Farm Bureau Federation pointed out, once the trade door is “re-opened” between the two countries, this will be “key to helping farmers and ranchers get back on their feet.”
Trade is so very important for these farmers. One farmer, Tom Waters explained that:
“Getting these trade deals negotiated and in place can do nothing but help us, (and) help our price and our ability to feed the world, really.”
Farmers really do need to return to their engagement in global business, of which US-China trade is a huge part. Added to this fact is that since 2018’s reshaping of trade policy via the Trump administration, American farmers have been faced with “fluctuating prices and uncertain destinations for what they grow and harvest amid increasing tariffs on grain exports.” The farmers really want trade (not aid) but they are facing demands from bankers who want to be paid.
Hopefully though the United
States-Mexico-Canada (USMCA) Agreement will also provide help to farmers moving