"burfordTjustice" wrote in message news
Wilbur Ross: 'Gigantic' China Trade Deal Gives US Access to $2B Market
The U.S. and China are working together on a trade deal that would allow the sale of beef, chicken and other major products between the worlds two largest economies.
U.S. Commerce Secretary Wilbur Ross told the FOX Business Networks Neil Cavuto, the deal takes three €śgigantic€ť steps to chip away at the nations crippling trade deficit.
€śFor more than a decade weve been trying to get legitimate U.S. beef exports into China and they had expressed some concerns about the mad cow disease€¦ use of hormones. Now weve overcome those obstacles and as of July 16, the U.S. will be free to export livestock to China,€ť he said, adding that the U.S. would now have access to a $2 billion market.
***This deal will succeed same as first 100 days in office, we You do not want
emigrants; that is nice but who the **** is working on Farms, while Farmers are
already strap down for work force. We have nothing but Morons in Washington!!!
President Trump touted the deal on Twitter this morning and fired back at critics saying €śthis is real news.€ť
Additionally, Ross said they have worked on a new €śregime€ť for liquefied natural gas (LNG) exports, which will allow China, the worlds largest importer of LNG, to sign long-term contracts with U.S. exporters.
€śThere had been some regulatory snafus frankly on both sides of the equation which we now have cleared up,€ť he said. €śLNG prices have been languishing for quite a little while because, frankly, we have a good deal of oversupply. So it seemed weird, we have too much of it, its much cleaner than coal would be, and yet we werent really doing a big job of exporting it to China.€ť
The agreement would also open negotiations on biotech.
€śChina had been resistant to biotech, to genetically engineered products coming from the U.S. into China. There have been eight applications that have been stalled, and stalled and stalled," Ross said. "Now weve worked out this whole regime where there will be a definitive hearing on it before the end of this very month, and then theres a whole process for fixing whatever imperfections there may be left over after that."
On the campaign trail, President Trump accused China of rigging their currency and being untrustworthy, but Ross says the deal will hold them accountable.
€śThey are pinned down to very specific actions on very specific very near term dates,€ť he said. €śWeve never had trade deals before, we didnt with them or with anybody that had this level of precision to solving long-standing problems.€ť