Dairy groups welcome signing of ‘Phase One’ trade deal with China
Left to be fully resolved is how China will fulfill its commitment to purchase large quantities of U.S. agriculture products, including dairy.
According to multiple news outlets, President Trump and Chinese Vice Premier Liu He signed a "Phase One" trade deal on Jan. 15. Reaction from major dairy organizations was mostly positive.
“Today, the two most powerful economies in the world began to restore a positive, mutually beneficial trade relationship, and dairy producers and processors across the United States are grateful,” said Michael Dykes, D.V.M., president and CEO of the Washington, D.C.-based International Dairy Foods Association (IDFA). “To put the importance of this development in perspective for America’s dairy industry: Over the next decade, China represents a $23 billion market opportunity for U.S. dairy, and it is essential to our producers and companies that we have a trade relationship with China that further levels the playing field for American dairy and provides expanded market access for our growing industry.