US agricultural goods exporters are still waiting for China increase
As part of phase one of an economic and trade agreement between China and the US, which appears to have halted two years of trade tensions between the two, China has committed to importing more US agricultural produce this year.
The list of items Chinese companies can import to contribute towards fulfilling this commitment includes certain US hides, skins and leather products. However, the Leather and Hide Council of America (LHCA) has warned that it may take some time for China to begin making these purchases.
In a weekly update on February 4, LHCA said: “External factors, including the spread of Novel Coronavirus, could delay China’s compliance with the agreement.” It quoted reports that have suggested China could ramp up its imports of US agricultural goods in the second half of 2020.
Under the deal, China has committed to purchasing up to $80 billion in US agricultural imports over the next two years, but it has not removed any of its retaliatory tariffs on US imports, LHCA said.
