Trade is a hot topic this month with several meetings touching on the issue, including Monday’s U.S.-China Leaders’ Summit. Micheal Clements has more on what to expect as these meetings take place.
Clements: Trade summits this week and later this month will focus on agriculture issues. Monday was the U.S.-China Leaders’ Summit, followed this week by the North American Leaders’ Summit, and coming up at the end of the month a ministerial meeting of the World Trade Organization. Regarding China, Farm Bureau Congressional Relations Director Dave Salmonsen says President Biden pressed China to fulfill their Phase One commitments.
Salmonsen: China so far this year is falling a little bit behind, so far this year they should have purchased about $24 billion of U.S. ag products, they’ve purchased about 19 billion. But the fall buying season is underway. So, we're hoping they reach their ultimate commitment of about 40 billion by the end of this year.
Clements: As for the future of Trade with China, Salmonsen says there doesn’t appear to be a focus on getting a Phase Two agreement.
Salmonsen: Another thing that President Biden said was that he wanted to see the U.S. and China have progress on negotiations that are ongoing, trying to move the economic relationships towards more productive footing, get it to be more stable and predictable. We hope that those negotiations will deal with the issues that are still outstanding even beyond what was in U.S.-China Phase One.
Clements: Finally, Farm Bureau wants to see the U.S. engage with Mexico regarding scienced-based decisions for GMO approvals.
Salmonsen: We certainly hope that that's something that is discussed. Yes, that's an ongoing issue with Mexico, and we believe that's certainly something that could affect trade going forward, there is concerns on the U.S. side of that, an issue that needs to be fully explored.
Clements: Micheal Clements, Washington.