The U.S. Ambassador to China tells farm broadcasters the Trump Administration will continue to stand firm on trade issues with China and will protect U.S. farmers, “We get this resolved, the potential here is great. Nearly 1.4 Billion people. A growing middle class with their income going up an average of six-and-three-quarters-percent a year. This is a significant market.”
Ambassador and former Iowa Governor Terry Branstad told Brownfield Ag News and the other National Association of Farm Broadcasters (NAFB) reporters who arrived in China this weekend that China has to change to avoid a trade war with the U.S.
Branstad says the administration is not willing to accept only a few changes in China’s policies while the trade deficit grows larger and the stealing of intellectual property and transfer of assess gets worse – and, he says, China knows it, “They recognize that they can’t produce enough soybeans or some of these food items, agriculture items, that they need on their own.”
Branstad the trade potential with China is huge because it can’t produce all the food and protein it needs to meet the needs of its middle class AND that Chinese consumers like the quality of U.S. food.