China and U.S. reach agreement on beef, poultry, natural gas

A new trade deal with the U.S. could help feed China's growing appetite for beef and increase natural gas imports but will likely make only a negligible dent

"To make sure our ranchers and farmers have access to this market, it's vital that we hold China to its trade commitments-whether it's allowing imports of our beef or making sure China isn't unfairly subsidizing its domestic products".

He estimated the agreements would result in an improvement in the US trade deficit with China by the end of the year. American beef exports dropped from $3 billion to $1.1 billion by 2004, but the market has since recovered to pre-2003 levels without exporting to China.

The Secretary is confident that the Chinese market will be open soon and it will be a huge boost to the US beef industry.

Wilbur Ross the Commerce Secretary said the deal would help lower the deficit with China.

"This was pretty much a herculean accomplishment to get this done", Ross said, according to Bloomberg News.

China's dealmakers edged out their USA counterparts in their first round of trade talks. For one, the arrangement upends the idea that the US and China will launch a trade war, Vice Commerce Minister Yu Jianhua said Friday.

"The desire for high-quality proteins like USA beef producers raise is there", Ellingson said.

"China just got a steady supply of liquefied natural gas, which will also reduce the deficit but not really add up to many, if any, U.S.jobs", said James McGregor, China chairman of APCO Worldwide.

"USCA applauds President Donald J. Trump, Secretary Perdue, and Members of the House and Senate for making USA beef access to China a priority issue and appreciates the efforts by all to see this agreement through to completion".

Foreign-owned firms will be allowed to offer credit-rating services in China by July 16.

The joint statement said the United States would send a delegation to China's One Belt, One Road summit - Xi's signature project - on Sunday and Monday. If the two titans become more allied economically, that could also affect the bilateral free trade agreement the USA seeks to forge with Japan.

Turkey's Erdogan says U.S. visit to herald new beginning in relationship
The official, who wasn't authorized to discuss the issue publicly and spoke on condition of anonymity, said the USA has yet to provide the weapons.

"We've agreed to treat their financial institutions, their banks, the same way as we evaluate other foreign banks when they want to come and open up activities in the U.S.", Ross said on "Squawk Box." . Beijing had already made a decision to lift the import ban on American beef in September, before Trump was elected.

Tyson Foods Inc, Cargill Inc and JBS are among the biggest exporters of US meat.

FILE - In this January 22, 2003 file photo, a Chinese shopkeeper stands behind a row of beef products at an open air market in Beijing, China.

Trade experts outside government also questioned the magnitude of the deal. That's the deadline for resuming beef exports to China.

Chinese officials have been in our state numerous times over many years to learn more about the high quality beef produced in Nebraska.

US President Donald Trump.

During last year's campaign, Trump had threatened to impose trade tariffs and label Beijing a currency manipulator, neither of which he has done.

While Trump had earlier said China could receive more favorable trade terms from the U.S.in return for help in persuading North Korea to cease its nuclear and missile activities, Zhu downplayed any suggestion of a link between the two.

"Both sides have a deep and close understanding that the U.S".

But with China, which accounts for half of America's trade deficit, Washington is now assuming a starkly different attitude.

Related News:

  • Sarah Huckabee Sanders' FBI and Comey tweets haven't aged well

    Sarah Huckabee Sanders' FBI and Comey tweets haven't aged well

    Later, Ms Sanders said, "We want this to come to its conclusion, we want it to come to its conclusion with integrity". Trump, a wealthy NY real estate developer, has refused repeated calls from his critics to release his tax returns.

    Champions League: No Divided Loyalties for Zidane's Juventus Reunion

    We're in the Champions League final and we're doing well in LaLiga, but we haven't won anything just yet. "The matches are hard ". Pepe is not going to be tomorrow because he's still having rib pains. "He trained with us, but it's not quite right".

    Moon to send special envoys on THAAD, DPRK to China

    The alliance has weathered previous disagreements between the White House and the Blue House, including a period when George W. Moon also has questioned the deployment of a US missile defense system the last government rushed into service.
  • Seoul says Putin ready to help resolve North Korea nuclear issue

    Seoul says Putin ready to help resolve North Korea nuclear issue

    Moon was sworn in today, just a day after a landslide election victory following the ouster of his predecessor Park Geun-Hye over a massive corruption scandal.
    Comey sacking: Trump urged to hand over any tapes

    Comey sacking: Trump urged to hand over any tapes

    Challenged whether Mr Spicer was his press secretary "today and tomorrow" Mr Trump responded: "Yeah, he is, sure". Comey instead told the Republican president he could count on his honesty, the Times said.
    Hafiz Saeed Spreading Terrorism in The Name of Jihad, Says Pakistan

    Hafiz Saeed Spreading Terrorism in The Name of Jihad, Says Pakistan

    The judge also asked the counsel of Hafiz Saeed if he was presented before the review board before extension of his detention. Saeed claimed in his petition that the government detained them without any legal justification.
  • Sinclair Broadcast to buy Tribune Media for $3.9 billion

    The $3.9 billion deal has some wondering whether Sinclair may stitch together a conservative news network to rival Fox. Tribune now operates dozens of TV stations across the country, including CBS4 and our news gathering partners FOX59.
    GALLERY: Ireland cricket team lose out to New Zealand

    GALLERY: Ireland cricket team lose out to New Zealand

    Even though Colin Munro fell for a golden duck, Neesham's quickfire 30 helped New Zealand finish on 289/7 off their 50 overs. Worker, in only his third global , was the more patient while Taylor scored at a run-a-ball.
    Won't allow Pak to wage wars against its neighbours: Zardari

    Won't allow Pak to wage wars against its neighbours: Zardari

    Pakistan enjoys exceptionally good ties with China which is exemplified by the China-Pakistan Economic Corridor. He said the government was printing currency to give an impression that economy was stable.
  • German state vote shows Merkel on track

    Carsten Nickel, an analyst with Teneo Intelligence, said the NRW result was a sign that Merkel was on her way to re-election. Asked whether that was smart, she replied: "I said I would take responsibility for that, and I'm doing that this evening".
    After Comey firing, Trump's frustrations boiled over

    After Comey firing, Trump's frustrations boiled over

    But according to sources close to the White House, being the administration's top spokesperson is a job no one is excited to fill. White House Press Secretary Sean Spicer is out of the briefing room this week, and already there is speculation about his future.
    DHSE Kerala +2 result 2017 today

    DHSE Kerala +2 result 2017 today

    The Directorate of Higher Secondary Education (DHSE) Kerala successfully conducted 12th Class +2 exams in the month of March 2017. Not just that, the pass percentage is also seeing significant increase, which is definitely good sign for board.


Most liked

Flipkart Big 10 sale offers: Checkout hot deals on latest gadgets
Flipkart sale began on May 14 and is on till May 18 and it promises to be the "biggest" sale ever, in Flipkart's 10 year history. The e-retailer is also giving 19 percent off on the 128GB memory variant of Google Pixel , which is available at Rs 52,999.

Tillerson says U.S. listening to other nations on climate
The Fairbanks Declaration includes several other references to climate change and taking action to mitigate it or adapt to it.

Ransomware Cyber attack threat escalating: Europol
It was among a large number of hacking tools and other files that a group known as the Shadow Brokers released on the internet. Elsewhere in Europe, the attack hit companies including Spain's Telefonica, a global broadband and telecommunications company.

Penguins push Capitals to the brink of another disappointing ending
The best thing the Penguins can do is control their anger and use it against the Capitals in Game 4 at home. The second was the Capitals themselves as they were whistled for six - six ! - offensive zone penalties.

North Korea missile test 'due to Kim Jong-un paranoia'
It is the second missile launch in around two weeks and the first since new South Korean leader, Moon Jae-In, was sworn in. Meanwhile, Japanese Prime Minister Shinzo Abe called the missile launch "totally unacceptable", according to CNN .

Ottawa wins Game 1 in overtime in Pittsburgh
Bobby Ryan's productive playoff continues; Anderson, Fleury, Pageau, Malkin and more in Scott Cullen's Statistically Speaking. The Pittsburgh Penguins host the Ottawa Senators in game one of the NHL Eastern Conference finals on May 13 at 7pm EST.

Isaiah Thomas lambasts Draymond Green for calling Kelly Olynyk 'dirty'
Golden State forward Draymond Green was the latest to accuse Celtics forward Kelly Olynyk of being a "dirty" player. The play resulted in a dislocation of the shoulder and forced Love to undergo season-ending surgery.

Vodacom buys strategic stake in Safaricom for ZAR 35 bln
Service revenue from the South African operations increased 5.6%, owing to the net additions of almost three-million customers. Vodacom delivered steady growth for the year ended March 31, supported by strong growth in its South African operations.

James Harden partied at multiple clubs, heard MVP chants, following loss
No, the Rockets didn't, just like virtually every D'Antoni team that's gone up against a Spurs team. After the crushing ending, that might not even be enough time. "We didn't quite get it done".

White House says fourth detention of United States citizen in N. Korea "concerning"
In terms of detentions, North Korea is second only to Iran, where five Americans are now missing or detained. He became a US citizen in the 2000s, then returned to China.

Businesses bolster cyber defenses for new ransomware attacks
Although cyber extortion cases have been rising for several years, they have to date affected small-to-mid sized organizations. When he tried to access patient files on a computer, he couldn't find them - even though he knew they were there.

Oil rises on falling USA stockpiles, Saudi cuts to Asia
The Opec report confirmed that USA oil and gas companies have already stepped up activities in 2017 amid a recovery in oil prices. OPEC and other producers are expected to discuss an extension at a meeting on May 25.

IS Claims Deadly Attack on Pakistani Lawmaker
The incident reportedly left 30 others injured. "I was sitting in the front seat when the strong explosion occurred", he said. China is building a network of roads and power plants under a project known as the China-Pakistan Economic Corridor or CPEC.

Schumer: No new FBI director without a special prosecutor
Schumer said on CNN's "State of the Union" that "the key here, of course, is getting some of our Republican colleagues to join us. He said Sessions' "actions of the last week make all the more reason that he should not be attorney general".

Sacked minister records statement before ACB in tanker scam
Mishra was on a hunger strike demanding that AAP should disclose the details of the funds used on the foreign trip by its leaders. Police officials and his aides caught hold of Bhardwaj.