The $95 Billion Centerpiece of the Trade Deal Is Already In Doubt
n all, China could make almost $95 billion in additional purchases of American commodities as part of its trade deal with the U.S. The prospect is already drawing skepticism.
Most U.S. agricultural markets weakened Wednesday, with traders saying they need to see actual evidence of increases in shipments for prices to make substantial gains. American oil and natural gas prices were also lower.
U.S. President Donald Trump highlighted that the so-called phase-one deal signed in Washington will benefit farmers, a core voting bloc that he needs to appease to boost his re-election prospects. China has cut imports of American agricultural products during the long-running trade war between Washington and Beijing, roiling the economy in the nation’s farm belt.
“Given the numerous deals that have been reached and then breached in the past two years, we are also skeptical,” the National Farmers Union, which advocates on behalf of almost 200,000 American farm families, said in a statement. “And without more concrete details, we are deeply concerned that all of this pain may not have been worth it.”
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