U.S. and China agree to restart trade talks in early October.
The announcement ended weeks of speculation if the two sides would revisit negotiations. Chinese officials told reporters the agreement was reached in a phone conversation this week. Beijing’s top trade negotiator plans to travel to Washington next month while deputy level meeting will continue over the next 3 weeks. Another positive sign for trade - China purchased 14 hundred metric tons of U.S. pork. The ag industry welcomes the news. AFBF trade adviser, Dave Salmonsen says U.S. farmers need a win after losing billions in the fight.
Trade relief payments continue to keep the industry afloat. According to USDA - producers have filed more than 175 thousand applications for 2019 and so far, the government has paid $2.46 billion dollars.
Sectors seeing the most funds include row crop, hog and dairy sectors, plus specialty crops like cherries and pecans. In June, the Trump Administration released $16 billion dollars in aid on top of $8 and a half-billion dollars in 2018.
