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IPFS News Link • Free Trade

Here Is The Full Text Of The "Phase One" US-China Trade Deal

• by Tyler Durden

Agriculture details:

China Purchases to Include Oilseeds, Meat, Cereals, Cotton

China to Buy Add'l $19.5B U.S. Agriculture Products in 2021

China to Buy Add'l $12.5B U.S. Agriculture Products in 2020

China to Approve Pending Applications for U.S. Bond Raters

As Bloomberg notes, China is committing to buying about $32 billion in additional U.S. farm products over the next two years, that's coming on top of levels seen in 2017 (pre-trade war). Specifically, China committed to importing at least $12.5 billion more agricultural goods this year than in 2017, rising to $19.5 billion next year. It's unclear just how this will happen without China's destroying existing supply chains. China will also "strive" to purchase an additional $5 billion a year in farm products.