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ASA looks for validation of progress as U.S. and China tout preliminary agreement
The American Soybean Association is looking for specific indicators to validate progress in U.S., China trade negotiations.
ASA vice president Bill Gordon, who farms in southwest Minnesota, tells Brownfield ASA is leaning on the United Soybean Board and U.S. Soybean Export Council to shed light on what the Chinese are up to.
“We’re looking at when China actually places an order, does it get shipped out of the Gulf of Mexico or Pacific Northwest? Is it on the boat? Does it get delivered to our partners over there and then used in country? Those are the indicators we’re watching.”
Despite reports of a preliminary trade agreement in which China has agreed to purchase upwards of $50 billion in U.S. ag products, Gordon says ASA remains skeptical.
“To see China come to the plate and start buying our U.S. soybeans again is definitely a breath of fresh air. But we’re not holding our breath either. We need to get this stuff on paper, we need to see these orders paid for and shipped.”
The White House says it aims to have a “Phase 1” agreement in writing for President Trump and Chinese President Xi to sign when they are in Chile next month for a multi-nation economic summit.
Tags: ASA, China, Crops, Exports, Farm Income/Prices, grains & oilseeds, Minnesota, President Trump, Soybeans, tariffs, Trade, trade war, Trump Administration, USB, USSEC
Please remain skeptical as trump and perdue will say anything. They’ll turn your tractors into hoes.