According to the USDA, U.S. exports to China that meet the terms of the phase one trade deal are at $17.5 billion through October 2020. American Farm Bureau Federation Chief Economist John Newton says that’s the highest level seen in years and a step in the right direction. However, China is not close to meeting their first-year commitment in the phase one trade deal. “Without a doubt they’re still in the neighborhood of 20 to 30 percent below where they’d need to be on pace to reach the phase one agreement. If this pace continues, we’re likely to ship a record amount of ag commodities to China this calendar year,” says Newton. “Increased exports are good news for a farmer’s bottom line.”
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