IARN — The administration continues to review the country’s relationship with China.
Earlier this month, U.S. Trade Representative Katherine Tai announced four steps the Biden administration will take to realign America’s trade policies towards China, which included a review of the Phase One Trade Agreement.
The agreement – which was brokered under former President Donald Trump and signed in January of 2020 – is set to expire at the end of 2021. Reports say China has only reached approximately 62% of its purchase agreement.
USDA economist Bart Kenner recently looked at some of the numbers on U.S. agricultural product sales to China during the first eleven months of the 2021 fiscal year.