China lifts ban on U.S. poultry, but trade talks still rocky - Entrepreneur Generations

Yesterday brought good and bad news about trade talks between the U.S. and China.

The good news: China agreed to lift its ban on imports of U.S. poultry. "China ranked as the state's second-largest foreign market for turkeys and its third-largest export market for all poultry before January 2015, when the Chinese banned the purchase of U.S. birds after an outbreak of avian flu," Jim Spencer reports for the Star Tribune in Minneapolis. In exchange the U.S. agreed to allow sales of cooked poultry processed in China. 

The bad news: The U.S. and China are having a hard time agreeing on how much China should commit to in terms of buying U.S. agricultural products. President Trump has said that China agreed to buy up to $50 billion of soybeans, pork, and other U.S. ag products, "but China is leery of putting a numerical commitment in the text of an agreement, according to people familiar with the matter," The Wall Street Journal reports. "Beijing wants to avoid cutting a deal that looks more favorable to the U.S. than to China, some of the people said, and also wants to have flexibility within the agreement should trade tensions escalate again. 'We can always stop the purchases if things get worse again,' said one Chinese official." Both sides are also far from agreement on intellectual property issues.

from The Rural Blog https://ift.tt/2CNj3r7 China lifts ban on U.S. poultry, but trade talks still rocky - Entrepreneur Generations

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