U.S. Agriculture Secretary Sonny Perdue said on Wednesday that the United States...
SAN ANTONIO, Texas/CHICAGO - U.S. Agriculture Secretary Sonny Perdue said on Wednesday that the United States would have to be tolerant if the fast-spreading coronavirus impaired China’s ability to increase purchases of American farm products under the countries’ recently signed trade deal.
Commodity traders and agricultural economists have questioned whether Beijing will follow through on pledges in the deal to buy $36.5 billion of U.S. agricultural goods in 2020, now that the new coronavirus is threatening China’s economic growth. The United States wants China to live up to its pledges, Perdue said, but trade negotiators could not have anticipated the outbreak.The deal text contains a disaster clause, yet to be formally invoked by Beijing, to allow for delays: “In the event that a natural disaster or other unforeseeable event outside the control of the Parties delays a Party from timely complying with its obligations under this Agreement, the Parties shall consult with each other.
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