China Phase 'Two': What We Know Right Now
China has committed to purchasing at least 87 million tons of soybeans over three years.
According to the Vice President of Public Policy and Economic Analysis, trade policy decisions will impact farmers and ranchers.
This agreement is reminiscent of the 2020 Phase One deal, which included agricultural purchase commitments resulting in over $60 billion in agricultural exports.
- Historical agricultural purchases from the US to China grew steadily from $2.6 billion in 2000 to a record $28 billion in 2012.
The agricultural-related provisions are part of a Deal on Economic and Trade Relations with China announced by President Trump.
Author's summary: China commits to purchasing soybeans over three years.