Ag News

U.S. Agricultural Exports Expected To Grow In 2020

(IARN) — United States agricultural exports are expected to grow in 2020, thanks in part to recent trade agreements.

Dave Salmonsen serves as senior congressional relations director for the American Farm Bureau Federation. He believes China will help boost United States farm exports in 2020.

“We have a date of January 15. Let’s hope it happens…getting a phase one deal with China. (On) January 1, the U.S./Japan deal came into effect. According to the agreement made, within four months, discussions on phase two of that deal can begin,” Salmonsen said.

U.S. Department of Agriculture Chief Economist Rob Johanson says the U.S./China trade deal promises “As much as 80-billion dollars of purchases by China over the next two years. On average, 40-billion dollars (of purchases) a year.”

Additionally, United States producers seek a finalized U.S.-Mexico-Canada Agreement, which “would increase total annual U.S. agricultural and food exports by $2.2 billion.”

Future trade negotiations could also feature the United Kingdom.

“If the British maintain what they’re saying about leaving the European Union on January 31, then you could start seeing negotiations begin and continue throughout next year and beyond with the United Kingdom,” Salmonsen said.

United States officials will once again focus on former Trans-Pacific Partnership ally Vietnam, as well as the Philippines, Indonesia and possibly Taiwan.

Story courtesy of the Iowa Agribusiness Radio Network.