U.S. secretary of agriculture Sonny Perdue and trade representative Robert Lighthizer announced today that China has taken numerous actions to begin implementing its agriculture-related commitments under the landmark U.S.-China Phase One Economic and Trade Agreement on schedule. The agreement entered into force on Feb. 14, 2020.
These actions include:
In addition, China has begun announcing tariff exclusions for imports of U.S. agricultural products subject to its retaliatory tariffs (Tariff Exclusion Process Announcement), and it announced a reduction in retaliatory tariff rates on certain U.S. agricultural goods (Tariff Rate Adjustment Announcement). These types of actions will facilitate China’s progress toward meeting its Phase One purchase commitments.
“President Trump and this Administration negotiated a strong trade agreement with China that promises significant benefits for American agriculture,” Secretary Perdue said. “We look forward to realizing these benefits this year and are encouraged by progress made last week. We fully expect compliance with all elements of the deal.”
“President Trump signed the Phase One agreement a little more than a month ago, and we are already seeing positive results,” Lighthizer said. “Under the President’s leadership, we will ensure the agreement is strictly enforced for the benefit of our workers, farmers, ranchers and businesses.”