Chinese Chicken Is Headed To America. But It's Really All About Beef
- Author: Leroy Wright May 17, 2017,
May 17, 2017, 22:46
-China trade agreement. Trump administration officials hailed the deal as a significant step in their efforts to boost USA exports and even America's trade gap with the world's second-largest economy.
Late last week the White House announced a deal with China that will resume US beef exports to China to begin no later than July 16th, following an additional round of technical trade consultations.
The deal lowers barriers on USA beef and liquefied natural gas exports to China as well as on some other goods and services. The deal is the final hurdle to reopening the Chinese market for US beef after a 14-year absence and sets clear action steps to open the market.
Ross highlighted his expectation that the improved flow of trade with China will start lowering the nation's $347 billion trade deficit with China by the end of the year although he didn't provide any estimates of how much. "It's impossible to overstate how beneficial this will be for America's cattle producers, and the Trump Administration deserves a lot of credit for getting this achieved", said Craig Uden, President, NCBA.
Another is China's entry into the World Trade Organization in 2001, an event that caused a surge in Chinese exports to the United States and created an economic shock that caused the loss of more than 1 million factory jobs, according to research by economists David Autor, David Dorn and Gordon Hanson.
"U.S. -China relationships are now hitting a new high, especially in trade", Commerce Wilbur Ross said announcing the trade deal Thursday. But it's limited, and pales in comparison with the effects of China's entry into the World Trade Organization in 2001 and Richard Nixon's opening to China in 1972. "But that piece is very encouraging to US beef producers".
Trump had pledged during his presidential campaign that he would stop trade practices by China and other countries that he deemed unfair to the US.
China agreed to give "full and prompt market access" to payments companies, like Mastercard Inc., Visa Inc. and American Express Co.
"We're not going to see a $20 profit with these cattle anymore, we're going to start seeing $100, $200 a head profits", Mann said. "We will be reaching out to our state's beef community to ensure that we continue to position Nebraska to play a key role in the Chinese market". "We do not intend to endanger anybody's health or safety in the USA", he said.
"The desire for high-quality proteins like US beef producers raise is there", Ellingson said. "Given China's demonstrably poor food safety record, it is unacceptable to take unnecessary risks with the health of American families". "The beef deal is a significant, concrete accomplishment resulting from the 100-day plan established by President Trump and President Xi at their summit". "But the substantive impact on US-China trade and investment flows is pretty minimal".
On Friday, when asked whether the trade talks with the United States were related to North Korea, Zhu said economic issues should not be politicized.
"Both sides have a deep and close understanding that the U.S".