North Dakota cattle producers cheered the reopening of the Chinese market to US beef.
"Following one more round of technical consultations between the United States and China, China is to allow imports of USA beef on conditions consistent with worldwide food safety and animal health standards and consistent with the 1999 Agricultural Cooperation Agreement, beginning as soon as possible but no later than July 16, 2017", said the news release that also explained that consensus on this and other trade issues took place about a month after President Trump's meeting with Chinese President Xi Jinping. China banned American imports in 2003 after an outbreak of mad-cow disease. And the new agreements also formalize the ability of China to import natural gas from the United States; China already imports significant volumes of USA liquefied natural gas.
"As noted in the U.S".
Because of the numerous harvest plants in Nebraska, this announcement will impact all Nebraska beef producers more than any other state in the U.S. Currently, product equivalent of 2600 head of cattle is exported worldwide from Nebraska every day.
According to the Trump Administration, there is one more round of technical consultations before USA beef arrives in China by July 16, 2017. Again, this sounds like a win but the USA has already won a WTO trade dispute against China on these payment systems.
Much of the United States' stance on trade remains uncertain, but the Trump administration i...
President Trump pledged during his presidential campaign that he would stop trade practices by China and other countries that he deemed unfair to the United States.
"These are modest moves which by themselves will not have much effect on the USA economy", said David Dollar, a senior fellow at the Brookings Institution and former Treasury Department official.
The Information Technology & Innovation Foundation (ITIF), a nonprofit think tank, and the Internet Association, which represents companies such as Amazon.com Inc. and Dropbox Inc., said the administration must consider the digital economy in its plans for further trade talks with China or risk putting the U.S. behind in advanced technology industries.
Some Minnesota farmers woke up to good news Friday morning, and it came all the way from Beijing. Cheniere said on Friday it has had extensive negotiations with Chinese state-owned companies about increasing USA shipments of LNG to China.
According to the Department of Energy, it has received export applications totaling 54.26 billion cubic feet per day to nations with free trade agreements (FTAs) with the United States and applications to export 50.67 billion cubic feet per day to countries without free trade agreements.
While it is uncertain how the new agreements will narrow the trade gap, Beijing's concessions have offered Trump some concrete results he can show to his domestic audience. It will also allow US-owned payment processors such as MasterCard and Visa to apply for licences to settle renminbi payments in China, in a move that "should lead to full and prompt market access", the joint statement said. He says China's industrial policy is discriminatory.
"We are excited about U.S. trade policies and I think you probably saw we made an announcement of a 100 day economic plan with the Chinese so I think we're very happy with how were proceeding with the Chinese", Mnuchin said.
Access to the Chinese market for USA based payment processors.
While Trump had earlier said China could receive more favorable trade terms from the U.S.in return for help in persuading North Korea to cease its nuclear and missile activities, Zhu downplayed any suggestion of a link between the two.
China's 1.37 billion residents are projected to eat roughly 17.6 billion pounds of the meat this year, according to the U.S. Department of Agriculture's Foreign Agricultural Service.