USGC Statement On Signing Of U.S.-China Phase One Agreement

A statement from U.S. Grains Council Chairman Darren Armstrong, a farmer from North Carolina, following the signing of U.S.-China Phase One agreement today at the White House:

“The U.S. Grains Council is pleased to see the signing today of a Phase One deal with China, which should reduce continued market uncertainty and incentivize China to purchase significant amounts of the full range of U.S. agricultural products, including grains, distiller’s dried grains with solubles (DDGS) and ethanol, to total at least $80 billion over the next two years.

“The structural reforms, particularly those affecting feed grains, agricultural biotechnology, and sanitary and phytosanitary measures – once fully committed and implemented – will hopefully offer lasting impacts beyond short-term commitments to make accelerated, market-driven purchases. The agreement, as we understand it, will offer opportunities for U.S. farmers to once again become competitive in China and serve our customers by addressing retaliatory tariffs and long-standing, non-tariff barriers to trade.

“Our organization and our members believe in the long-term value of international trade, and we have spent more than 35 years working with partners in China to develop its feed and livestock industry. Our sector is committed to remaining a reliable supplier of grain products and ethanol for customers in the feed, food and energy industries in China as our countries’ relationships evolve.”

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Contact:
Bryan Jernigan, (202) 603-3891, bjernigan@grains.org