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China trade plan progress unveiled, but deficit benefits unclear
20 May 2017, 08:03 | Jan Cross
Chicken meat for sale at a market in the Anhui Province of China.
VCG VCG via Getty Images
Ross said a deal for coal exports to China wasn't likely, given the far shipping distances. The Energy Department has authorized natural gas shipments of 19.2 billion cubic feet per day to China and other interested countries that lack a broader free trade agreement with the United States, the Commerce Department said.
President Donald Trump's administration, eager for a win amid a furor over his firing of the Federal Bureau of Investigation chief, was quick to crow about trade concessions wrangled from the People's Republic of China. His tough talk toward Beijing had fueled early fears of a trade war. -China trade talks to concerns over North Korea's nuclear ambitions, urging Beijing to exert more pressure on Pyongyang. "I am happy that our work with the Trump administration and the USDA on emphasizing trade as essential to Kentucky agriculture has proven successful". Gary Cohn, director of the National Economic Council, has voiced support for an LNG terminal in the U.S. Northwest that would ship overseas to Asia.
The deal will also open up US exports of liquefied natural gas to China.
Mr Ross denied suggestions that the deal is linked to United States pressure on China to use its economic leverage to get North Korea to give up its nuclear weapons programme. It wasn't until last month at a Mar-a-Lago, Fla., meeting to advance U.S. But he can at least savor a breakthrough in his most important but contentious trade relationship.
Heitkamp, meanwhile, said the deal was promising, but pointed out China has made similar promises in the past.
MasterCard welcomed the announcement, saying it looked forward "to having full and prompt market access in China".
"China just agreed that the USA will be allowed to sell beef, and other major products, into China once again".
NORTHAM: Kennedy says the deal doesn't address core problems the USA has in its relationship with China.
But while the agreement touches on numerous trade barriers American companies have long complained about, it remains to be seen how far China will go to allow more American exports.
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China will speed up the approvals of bio-engineered agricultural products from United States companies, which are pending licences.
Beijing will issue bond underwriting and settlement licences to two USA financial institutions.
"We look forward to providing almost 1.4 billion new customers in China with the same USA beef that we feed our families".
05/15/2017The Trump administration has reached new deals with China to ease market access for a variety of industries, including beef and financial services, as the White House makes progress on trying to soften economic barriers between the two sides.
Another is China's entry into the World Trade Organization in 2001, an event that caused a surge in Chinese exports to the United States and created an economic shock that caused the loss of more than 1 million factory jobs, according to research by economists David Autor, David Dorn and Gordon Hanson.
Perdue says USDA is working to meeting the strict safety standards China has set to resume US beef exports after 13 years.
Under the announced deals, China will import US beef and poultry and will accelerate consideration of USA applications to sell bioengineered seeds in China.
Though the Commerce Department said U.S. Biotechnology includes genetically modified organisms for plants such as corn and cotton.
"LNG prices have been very depressed in the USA", the commerce secretary said. Later, Ross said the U.S.
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