Monday, December 16, 2019

China commits to ag. buying from U.S.

China has agreed to buy a minimum of $40 to $50 billion worth of agricultural products per year, beginning next year, said U.S. Trade Representative Robert Lighthizer during a television interview.

And China has further agreed to buy a total of $200 billion of U.S. goods per year, he said.

This year China is buying about $10 billion worth of U.S. agricultural products and in 2017 it was $21 billion.

China’s purchases are likely to shore up U.S. agriculture products prices and that, in turn, will shore up Canadian prices.