By Neil Doyle and CNN
WASHINGTON – The U.S. and China on Wednesday signed a “Phase One” trade deal that includes pledges from Beijing to more than double its purchases from American farmers in the first year.
U.S. Rep. Darin LaHood (R-Peoria) was in Washington D.C. for the signing. He said this a good deal for farmers across the country, especially right here in the state.
Great day for Illinois! Honored to be at the White House as @realDonaldTrump signed the phase one trade deal with China. I applaud @POTUS, @stevenmnuchin1 & @USTradeRep for their efforts to hold China accountable & ensure phase one delivered for our ag producers. My statement ⬇️. pic.twitter.com/AQkCuc1xgL
— Darin LaHood (@RepLaHood) January 15, 2020
“Farmers and manufacturers in Illinois rely on the Chinese market to sell their goods,” said LaHood. “With today’s signing, our producers will begin to regain that access with a significant agriculture purchase agreement. In addition, U.S. companies will see a more level playing field in the areas of forced technology transfers and intellectual property rights.”
According to CNN, under the agreement, China has promised to buy $32 billion worth of agriculture products over the next two years. The agreement takes effect in 30 days.
Neil Doyle can be reached at firstname.lastname@example.org