U.S. and Chinese Official Discuss Phase One Progress

BEJING, CHINA – The U.S. and China are seeing progress in the implementation of the Phase 1 trade agreement. During a six-month review this week, senior officials from both countries reaffirmed commitments to ensuring the agreement’s success. According to a statement from the U.S. Trade Representative (USTR), the parties discussed “significant increases in purchases of U.S. products by China, as well as future actions needed to implement the agreement.” Also addressed were the steps China has taken to ensure greater protection for intellectual property rights, remove impediments to American companies in the areas of financial services and agriculture, and eliminate forced technology transfer. China is set to purchase record amounts of U.S. soybeans at competitive pricing as the new marketing year begins September 1, 2020.
(SOURCE: USAgNet.com)