The President Signing A Trade Agreement With China Is An Example Of What

Cindy Bobbitt, Commissioner of Grant County, Oklahoma: « Today, the American people won another historic victory with the signing of the Phase I Agreement between the United States and the People`s Republic of China. » U.S. sales of medical accessories to China also outperformed in 2020. The export of products needed for the diagnosis or treatment of COVID-19-related diseases, such as test kits and medicines, also followed the estimated targets (see again Figure 2). But then again, the likely explanation was the increase in Chinese demand by an unexpected pandemic. These sales could disappear as quickly as soon as the health situation stabilizes. President Trump: Okay, okay. I`m glad. (Laughter.) Can I be honest? (Laughter.) I`m glad. I like it much better like that.

And, from the people in the house, 195 to nothing. And we had three Democrats, and one of them actually left the Democratic Party, went through Republicans. And the job you did. So I would like to thank you all. It`s really hard. I love it. The heart of this agreement is found in its final chapter, which creates a new dispute settlement system between the United States and China. Implementation is particularly important, given the important reforms that China has approved to strengthen intellectual property protection and stop forced technology transfers, especially considering that China has accepted similar reforms in the past but has not implemented them. Thus, China has made substantial and enforceable commitments to protect U.S. ideas, trade secrets, patents, and trademarks. This wasn`t the case for most people – they didn`t know we were sewing anything out of it. We covered a lot of them.

This is phase 1. But they do a lot more things than anyone would have thought possible in Phase 1. Craig Hill, President of the Iowa Farm Bureau Federation: « Iowa farmers have long been calling for more free and open markets, and we welcome the progress made towards that goal through the Phase One-China Trade Agreement. Free and fair trade with China represents countless opportunities for Iowa agriculture in a growing market, with demand for U.S. agricultural products. Charley Matthews Jr., President of the U.S.A. Rice Federation: « We appreciate the government`s help in finding a level playing field for U.S. rice with China, both through historic market access and compliance with WTO requirements. » Energy accounted for only 8% of the total goods covered by the first phase purchase obligations, but their objectives were particularly questionable. Bloomberg reported that it was only after the signing of the agreement that the government learned from U.S. industry that it did not have the capacity to produce to meet the targets.10 In addition, the assessment of the U.S.-China trade relationship based on a significant increase in fossil fuel exports – among the targets, these include only crude oil, liquefied natural gas, coal and refined products – ignores global concerns related to climate change.

The agreement signed on Wednesday contains some victories for Sir. Trump: China has pledged to buy an additional $200 billion in U.S. goods and services by 2021 and fight trade practices criticized by the Trump administration. But the text of the agreement does not provide enough information to determine how it will work in practice, and it is unclear whether China will interpret it differently from the United States. Doug Goehring, North Dakota Commissioner of Agriculture: « I am grateful for the leadership of President Trump and Ambassador Lighthizer in this agreement. I am very pleased that these unjustified barriers are being removed and that market access is being improved for our producers, producers and agricultural innovators. Senator Mike Rounds (R-SD): « The `Phase 1` agreement signed today is great news for South Dakota farmers, ranchers and producers. As part of this agreement, China has agreed to buy at least $40 billion of our agricultural products. .

I thank President Trump for his efforts to ensure that our farmers, ranchers and producers get a fair deal. Call…

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