Just days after the U.S. and China signed the Phase One agreement, agricultural groups, traders and producers are still trying to sink their teeth into the scope of the trade deal.
Industry officials say Phase One is a good start, much more needs to be done.
A phase one trade deal with China is official, clearing the way for America’s chief trade competitor to purchase $80 billion worth of U.S. agricultural goods over the next two years.
The loss of sales to China between January and November 2019 is equal to about 1.3% of total U.S. milk solids.
Class III milk futures were mixed but with little change. 2020 months ranged from 4 lower to 5 cents higher.
This week on the AgriTalk Radio Show, Tom Vilsack, CEO of the U.S. Dairy Export Council and former U.S. Secretary of Agriculture, outlined what he hopes to see in the deal.
More meeting to resolve the issue will likely come in February.