Updates on the U.S./China Trade Agreement
China shows signs it will keep its Phase One promises as it waives more tariffs for U.S. commodities. Tariff exclusions include blueberries, California Hass avocados, powdered dairy products, barley, almond meal pellets, and other forage products.
Plus more protein facilities are on the list of approved exporters: beef, pork, poultry, and seafood. Some dairy and infant formula processors are also eligible.
The White House Economic Council Director, Larry Kydlow, says that he is looking for steady implementation and is monitoring it very closely.
The Phase One Trade Agreement may be a done deal; however, work toward Phase Two stalls. Chinese Foreign Ministry officials are hurling insults through social media, as President Trump, blames the Asian nation for the spread of COVID-19.
In another sign of tension this week, the Senate passed legislation threatening to delist Chinese companies from America stock exchanges unless the submit to U.S. auditing requirements.