China has substantially increased purchases of US farm goods and implemented 50 of 57 technical commitments aimed at lowering structural barriers to US imports since the two nations signed a trade deal in January, the US government said on Friday, reported Reuters.
In a joint statement, the US Trade Representative’s (USTR) office and the US Department of Agriculture (USDA) said China had bought over $23 billion in U.S. agricultural goods to date, or about 71% of the target set under the so-called Phase 1 deal.
“Since the Agreement entered into force eight months ago, we have seen remarkable improvements in our agricultural trade relationship with China, which will benefit our farmers and ranchers for years to come,” US Trade Representative Robert Lighthizer said in a statement.