Burgum, Hoeven & Cramer: Trade deal major win for ND farmers, ranchers
Gov. Doug Burgum and Senators John Hoeven and Kevin Cramer commented on the historic phase- one trade agreement that President Trump signed with China on Wednesday. Hoeven and Cramer joined the president and Chinese leaders at the signing ceremony on Wednesday.
“With China committing to purchase at least $200 billion in additional U.S. goods and services over the next two years, including $40 billion to $50 billion in agricultural goods, this agreement represents a major win for North Dakota farmers and ranchers, who are among the best in the world and can compete with anyone on a level playing field,” said Burgum.
“We’re grateful to President Trump and Ambassador (Robert) Lighthizer for their efforts to eliminate trade barriers, improve market access and provide additional certainty to our ag producers, manufacturers and innovators, while also securing greater protections for intellectual property and technology transfers. Along with the U.S.-Mexico-Canada Agreement and the U.S.-Japan Trade Agreement signed last October, this deal move us in the right direction toward fixing imbalances and ensuring fairer trade for all Americans.”
Hoeven, chairman of the Senate Agriculture Appropriations Committee and a member of the Senate Agriculture Committee, said, “This agreement is very important for our farmers and ranchers, as China has agreed to purchase $40-$50 billion in agriculture products as well as reduce barriers. We’ve repeatedly made the case to the Administration about the importance of securing ag purchases as part of any agreement with China, because we need to recapture the Chinese market for crops like soybeans, as well as expand it for products like beef. This phase one agreement is good for our producers and our economy.”
Cramer said, “This deal is a major victory for the United States and for North Dakota. It includes China committing to purchase $200 billion of American products over two years, with $40 billion for agricultural goods, while also pledging to stop intellectual property theft and currency manipulation. I thank President Trump for fighting tirelessly to deliver trade deals that are good for North Dakota’s producers and put American interests first.”
Under the agreement, China committed to increase purchases of U.S. agriculture goods to $40-50 billion in 2020 and 2021, including crops like soybeans and wheat, but also beef, pork and dairy. The agriculture purchases are part of an overall commitment by China to increase purchases of all U.S. goods over a 2017 baseline by $200 billion over the next two years.