The President Signing A Trade Agreement With China

Sid Miller, Texas Agriculture Commissioner: “The phase one agreement with China is a huge Texan message for American farmers and farmers. This is the beginning of a new era for American trade with China and a major step forward for American agriculture. I applaud President Donald Trump, Secretary of State Sonny Perdue, Minister Steven Mnuchin and Ambassador Robert Lighthizer for the achievement of this historic trade agreement. CropLife America Inc.: “We thank the @WhiteHouse for achieving and signing a historic trade agreement with China that will benefit our #farmers and U.S. consumers.” A first pact that cooled tensions in an election year follows months of escalating tariffs and a trade war that seemed never to stop. Governor Suzanne Crouch (R-IN): “@GovHolcomb, @ISDAgov and I applaud @realDonaldTrump for her promise to fight for Hoosiers, our workers and our businesses. This first-phase trade agreement with China is a great asset for agriculture in America and Indiana.¬†At Wednesday`s long ceremony in the East Room of the White House, Vice Premier Liu He read a letter from Chinese President Xi Jinping saying, “The next step will be to seriously implement the agreement by both sides.” Fiat Chrysler Automobiles Head of Jeep Brand, FCA – North America Jim Morrison: “Today`s Phase 1 agreement signed by President Trump and Vice Premier Liu is a good first step toward building a healthy business relationship.” Bruce Kettler, Indiana`s director of agriculture: “It was an honor to be invited and to observe the signing of this historic deal. We are pleased to continue to develop our relationship with China and look forward to the positive impact this will have on Indiana agriculture, now and in the future. U.S. sales of cars, trucks and parts also fell to just 33 percent of the previous target. Before the trade war, China was the second largest export market for U.S. vehicles. In July 2018, China returned the favor against Trump`s tariffs with a 25% tariff on U.S.

cars. U.S. exports then fell by more than a third due to the relocation of production for Chinese consumers to other sites and the non-recovery of U.S. exports since then. Tesla, for example, announced in late 2018 that it would accelerate construction of a new plant in Shanghai and relocate U.S. production to Chinese consumers.

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