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At his testimony last week before the U.S.-China Economic and Security Review Commission, Iowa Ag Secretary Bill Northey characterized the current trade relationship between the two nations as “strong and mutually beneficial.”
However Northey didn’t hesitate to point out that the relationship is less open than it could be. Biotech traits approved in the U.S. often aren’t approved until some time after in China. Purchase of corn (which if it contains unapproved traits, could create trade problems) requires a license issued by the Chinese government. And, Northey says, the Chinese market is unpredictable.
So what would an ideal trade relationship between the U.S. and China look like?