Planned trade talks next month between China and the U.S. has agriculture and the U.S. economy optimistic the talks will make progress. Politico reports that in the talks last week, China offered to purchase more U.S. agricultural products ahead of the planned negotiations for October. Phone conversations are expected to increase in volume between the two sides over the next few weeks.
Chinese officials will travel to Washington in early October to meet face-to-face, a rescheduling of talks planned for early September. The planned meetings this month lost traction after an escalation of tariffs between the U.S. and China in August. During phone conversations last week, Chinese official confirmed that the "two sides agreed that they should work together and take practical actions to create favorable conditions for consultations.”
Meanwhile, farm groups are urging Congress and the administration to finalize the U.S.-Mexico-Canada Agreement, as lawmakers have returned from a six-week recess. Finally, President Trump is expected to sign a trade agreement with Japan this month, another welcomed trade development for agriculture.