U.S., China reach trade deal for beef and chicken

May 12, 2017

The United States and China agreed to expand trade in beef and chicken by mid-July as part of trade talks that began last month, according to Reuters. In the agreement, China will allow U.S. imports of beef no later than July 16, and the United States will issue a proposed rule to allow Chinese cooked poultry to enter U.S. markets. The talks also covered credit rating scores and guidelines for card-payment services.

“We believe that Sino-U.S. economic cooperation is the trend of the times. ... We will continue to move forward,” Chinese Vice Finance Minister Zhu Guangyao told a Beijing media briefing.

Some commerce experts have their doubts. “Past foot-dragging means we won’t celebrate until these promises are executed,” said Ker Gibbs, the chairman of the American Chamber of Commerce in Shanghai.

China is the top export market for U.S. agriculture products, with the total value of exports rising by more than 1,100% since 2000 to $21.4 billion in 2016. China had conditionally lifted its import ban on American beef last year, which was imposed in 2003 after bovine spongiform encephalopathy, or mad cow disease, was reported in Washington state.

Reuters article