China to buy £39bn worth of agricultural products in US deal

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The US and China have signed Phase One of an international trade-agreement worth $200 billion overall, with China now expected to purchase up to $50billion (£39 billion) worth of agricultural products on an annual-basis.

After a two-year bitter trade-war wrangle between the two global superpowers, China will now welcome US beef, dairy, pork, poultry, seafood, rice, animal feed, biotechnology and other products.

 

The agreement ensures China will purchase $80 billion (£62 billion) in agricultural products over a two-year period as part of the $200 billion (£154 billion) agreement.

 

The trade deal is expected to yield 35 million metric tonnes of soybeans; 5 million tonnes of corn and between 2 and 4 billion tonnes of wheat.

 

Bruce Jobson

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