China Buys U.S. Rice For First-Time in History
(GUANGZHOU, CHINA) While many American farmers are pinned down by retaliatory tariffs from China, and thus reduced exports to the world’s largest market, U.S. rice producers are optimistic for the future. After decades chasing the Chinese market, a sale of rice from the United States to China was confirmed last week. This sale marks a turning point for the U.S. rice industry and its relationship with China as it is the first-ever transaction to a private importer and sets the stage for continued regular trade. The deal was consummated on the heels of the first U.S. rice trade seminar in China, conducted with funds from the new USDA Agricultural Trade Promotion (ATP) program. Five U.S. companies had the opportunity to meet with 15 of China’s top rice importers who expressed a great deal of interest in U.S. rice. Ironically, the ATP funds were allocated by USDA following the tariffs imposed by China on U.S. farm goods in retaliation for President Trump’s imposition of tariffs one year ago. While negotiators from both countries continue to look for common ground in the trade dispute, USA Rice is planning on more trade seminars in China this year.