Earlier today, President Trump signed “phase one” of a trade agreement with China, and Mississippi leaders are applauding the deal, which they say, will open China’s market to more American products.
As part of the new agreement, China has pledged to increase imports of American goods and services by at least $200 billion, including between $40 and $50 billion in American agricultural goods each year for two years. President Trump has stated that additional phases will complete the trade agreement, and Senator Roger Wicker says that this is a good start.
“The first phase of President Trump’s trade deal with China is a big step forward for commerce between our nations. Our farmers can expect fewer barriers to exports, and our businesses have won important protections for their intellectual property. I hope we can continue to build on this progress,” Wicker said.
Mississippi’s Commissioner of Agriculture Andy Gipson explained that Mississippi’s farmers will see many direct benefits from the new trade deal after a decline in exports to China over the last two years.
“I applaud President Trump’s persistence in negotiating new trade deals that will benefit American industries, especially agriculture. Agriculture is Mississippi’s number one industry, and it has been greatly affected by trade disputes with China. Our farmers have made sacrifices so our President could negotiate, with strength, a better trade agreement that protects American interests and security,” said Commissioner Gipson. “The signing of the Phase One Trade Agreement with China is a welcomed beginning to resolve these trade disputes, and serves as a symbol of the patriotism of our farmers. I’m grateful for the work President Trump is doing on behalf of agriculture and trade.”
In a tweet, Senator Cindy Hyde-Smith said that the deal shows “significant progress is made in correcting the historic US-China trade imbalance.”
Congressmen Steven Palazzo and Trent Kelly echoed Hyde-Smith’s sentiments on the signing of the deal.
“This is yet another historic victory for our country, made possible by President Trump’s leadership. The deal puts an end to unfair trade practices and levels the playing field for American workers. With major agreements reached in agriculture, manufactured goods, and energy, Mississippi will only benefit from this trade agreement. Phase one is a major step toward closing the trade gap with China,” Palazzo said.
President Trump signed the Phase One Trade Agreement with China today. @realDonaldTrump continues to make good on his promise to fix failed policies. This agreement will be an incredible improvement for American businesses, farmers, manufacturers, and innovators!
— Trent Kelly (@RepTrentKelly) January 15, 2020
In the deal, the U.S. has agreed to reduce tariffs that been placed on certain Chinese products.