President Trump decided to extend the March 1st deadline for an increase in tariffs against China. The President said to do so, he was going to need to see a real commitment by China to change their trade practices. There are talks of a 2nd U.S./China summit by the end of March.
The trade issues President Trump wanted to see progress on concerned China’s theft of technology and forced transfer of intellectual property for companies wanting to do business in the country, among other issues. United States Department of Agriculture (USDA) Secretary Sonny Perdue says he is hopeful the extension on the tariff delay is a strong and positive sign.
Secretary Perdue also said the USDA has been a part of the trade discussions through Trade Ambassador Robert Lighthizer.
Perdue says China’s commitment to increase Ag imports from the U.S. to the tune of $30 billion is just one small part of a final deal.
The U.S./China trade war in entering its tenth month. Coupled with uncertainty in trade over the United States – Mexico – Canada Agreement, issues in trade with the European Union, and the need for trade deals in the Asian Pacific to counter the Trans-Pacific Partnership benefits to our competitors, the trade climate has taken its toll.