Secretary Naig Encouraged By Signing of U.S.-China Phase One Trade Agreement
DES MOINES, Iowa (Jan. 15, 2020) – Iowa Secretary of Agriculture Mike Naig issued the following statement in response to the signing of the U.S.-China phase one trade agreement in Washington D.C. earlier today.
“The signing of the phase one U.S.-China trade agreement is great news for Iowa farmers,” said Secretary Naig. “It signals that both sides recognize the value of the trading relationship and are willing to continue working to secure a long-term deal. This is the progress we need to regain U.S. agricultural exports to China. I want to thank the Trump Administration for continuing to fight for access to this important market.”
- China may purchase up to $40 billion in agricultural products under the phase one agreement.
- The U.S. exported 49 million metric tons of corn to China during the 2018-2019 marketing year, according to the USDA FAS.
- 47 million metric tons of soybeans
- 861,702 metric tons of beef
- 1.2 million metric tons of pork
- Iowa exports to China in 2018, according to WISERTrade.
- $415 million of soybeans
- $40 million of animal feed
- $480,000 of beef
- $30 million of pork
- $10 million of corn
- Iowa exports to China in 2017, according to WISERTrade.
- $1.6 billion of soybeans
- $50 million of animal feed
- $322,000 of beef
- $42 million of pork
- $27 million of corn