China is threatening to retaliate against the U.S. over trade sanctions and a trade investigation, and that has U.S. agriculture on edge.
China’s upset with U.S. sanctions against Chinese firms buying coal and other minerals from North Korea, and with a pending U.S. probe of China’s intellectual property practices.
Beijing says the probe’s “poured cold water” on improving trade relations, and it will “take all means necessary” to defend the interests of Chinese enterprises.
National Cattlemen’s Beef Association’s Kent Bacus
The U.S. pork industry, with a huge market in China, is also paying attention. But trade experts, including Bacus, think a trade war is unlikely since both sides would suffer big economic damage…tape
And, while the U.S. runs a $310 billion trade deficit with China, U.S. exports there are growing. The market is huge with some 1.4 billion people, and China has a growing middle-class that can afford U.S. commodities like beef and pork.
From the National Association of Farm Broadcasting News Service.