The U.S. trade talks with China seem to be a long way from wrapping up. However, Ag Secretary Sonny Perdue is trying to assure producers that when an agreement is finally reached, it will be good for farmers’ pocketbooks. When that agreement is reached, Perdue says China will be purchasing even more farm goods than they had before the trade dispute began.
“The numbers that China was negotiating when they were here and talks were going well, the commitment of purchases was re-established as multiples of what they had been purchasing,” Perdue said in a Friday interview with Fox News. “That’s part of the agreement that we’ve insisted on. So, I think we’ll regain those markets.”
However, Politico says Ag exporters aren’t so certain. For months, they’ve warned that the standoff could also damage the sector over the long haul if China, adjusts to other sources for its farm import needs, especially soybeans.
In the meantime, the Trump Administration is still working on a short-term trade relief package for farmers and ranchers burned by retaliatory tariffs from China.