United States has landed a huge meat sale to China via
Chinese company JD.com and Smithfield Foods whose owner is WH Group of China.
The agreement commits JD to buy at least $200 million worth
of beef over three years at fair market prices and to buy about $1 billion worth
of pork from Smithfield, also over three years.
It’s part of a deal JD.com has made to purchase $2 billion
worth of goods from the U.S. over three years. Those purchases can be a wide
range of goods.
Montana beef producers will get a huge boost from the deal
that will increase its beef exports by about 40 per cent.
The $200-million beef deal is with Cross Four Ranch and
Montana Stockgkrowers Association.
U.S. Secretary of Commerce Wilbur Ross, Jr. and Chinese Vice
Premier Wang Yang were at the signing ceremony.
