Chinese and U.S. officials confirm the “ink is dry,” as a new trade deal has officially been signed. The news came during a White House event last night.
Commerce Secretary Howard Lutnick says the deal was reached earlier this week and is based on earlier trade talks in London. It codifies those terms and includes a commitment from China to send rare earth materials to the United States. Lutnick also told reporters that the U.S. would lift countermeasures but only once the minerals are delivered.
This deal did not mention any specific agricultural products, but officials say they will remain in close contact.
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Experts note that economic growth, fuel demand, and energy diversification are opening new opportunities for U.S. grain and ethanol exports in Southeast Asia.
U.S. consumers are still reaching for beef even though the country now produces more pork than beef.
Ethanol and feed coproduct exports remain strong outlets for corn demand, even after April’s pullback.
