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Agricultural Provisions of the U.S.-China Economic and Trade Agreement and USDA Trade Forecasts

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  • Office of the Chief Economist

Abstract

Excerpt from the Executive Summary: This paper provides an overview of the agricultural provisions of the U.S.-China Economic and Trade Agreement (Agreement) and discusses how those provisions will be reflected in upcoming USDA commodity trade forecasts. USDA publishes trade forecasts for U.S. and global commodity markets as part of the Department’s broader commodity supply and demand estimates. Consistent with past practice, USDA supply and demand forecasts reflect trade and other policies in effect at the time of the release of the forecast. The Agreement was signed on January 15, 2020 and will enter into force no later than February 14, 2020. The agricultural provisions of the Agreement include commitments by China to enact specific economic and regulatory reforms to facilitate agricultural trade, as well as commitments for China to purchase specific values of U.S. agricultural, food, and seafood products in calendar years (January-December) 2020 and 2021. The Agreement includes provisions that China will make such purchases on a commercial basis at market prices and that the purchases may reflect seasonal marketing patterns.

Suggested Citation

  • Office of the Chief Economist, 2020. "Agricultural Provisions of the U.S.-China Economic and Trade Agreement and USDA Trade Forecasts," USDA Miscellaneous 381047, United States Department of Agriculture.
    • Handle: RePEc:ags:usdami:381047
    DOI: 10.22004/ag.econ.381047
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