Trump headlines American Farm Bureau Convention
President Trump talked about the recent success his administration has had in the trade arena at the recent American Farm Bureau Convention in Austin, Texas.
President Trump talked about the recent success his administration has had in the trade arena at the recent American Farm Bureau Convention in Austin, Texas. That includes the ratification of USMCA and the signing of the China phase one trade deal. He says they will help pave the way for a more prosperous future for America's farmers.
"The two momentus trade deals we completed last week are just the beginning of a really incredible story because nobody thought we'd ever get here. They said the deal with China would be impossible to make and getting rid of NAFTA would be totally impossible," he said.
The president also thanked farmers for their support during the tough times of the trade war.
"Thank you very much to the farmer and ranchers for standing with me, for saying the President is right. Yes it's tough right now but the president is doing the right thing," he said.
Ag secretary Sonny Perdue says USDA will track China's purchases and report those to the U.S. Trade Representative, but the deal has unique enforceability provisions.
"It's unilateral in the ability to again reinstall tariffs there, punitive tariffs there and without retaliatory ability on China's part. The only ability they would have would be to withdraw from the whole agreement," Perdue said.
However, he says China has the freedom to buy as they wish to get to the total, and that's why there was no detailed commodity totals mandated.