The latest NDSU Agricultural Trade Monitor reviews the U.S.-China Phase One trade agreement. It says U.S. ag exports to China reached a record $38 billion in 2022. That’s up from $9 billion during the trade war in 2018. During that time, U.S. beef exports to China went from $25 million to over $1 billion. The grains were less successful with the U.S. responsible for 70 percent of its corn import market in 2021 and dropping to less than one percent last year. The Trade Monitor said market conditions were unusually favorable when the Phase One trade deal was made with high commodity prices, tight Chinese feed supplies and increased pork demand.
