On Friday afternoon, it was announced that the United States and China had reached a partial agreement in the trade war between the two countries. Specifically, China had agreed to some agricultural concessions and the United States would provide some tariff relief.
President Trump and Chinese Vice Premier Liu He were scheduled to meet at the White House later in the day to discuss the issue.
Earlier in the week, Chinese trade representatives met with their U.S. counterparts in Washington, D.C., to lay the groundwork for a deal. In remarks to reporters Friday afternoon, U.S. Treasury Secretary Steven Mnuchin calls the discussions “productive.”
The National Pork Producers Council has welcomed recent reports that China is making purchases of U.S. pork and currently excluding it from the application of retaliatory tariffs. However, the NPPC seeks permanent removal of all punitive tariffs to address China’s unique pork supply need. With African swine fever dramatically reducing domestic production, the United States is well-positioned to meet China’s need for safe, nutritious and affordable pork and to manage an emerging food price inflation challenge. In doing so, U.S. pork can single handedly put a huge dent in the U.S. trade imbalance with China.