China reopens its border to USA beef

Cheniere Energy, which operates the only current operating U.S. LNG export terminal, said it was in talks to start exports to China using long-term contracts. China has reportedly avoided US -imported beef since 2003 because of concerns about mad cow disease and hormone use.

"The administration has shown great leadership in working with the Chinese government and industry to help finalize market access for US beef", Institute President and CEO Barry Carpenter said.

Last fall, then NC President Barb Cooksley and then NCBA President-Elect Craig Uden helped host a Chinese delegation focused on resuming market access for US beef.

The United States and China reached a trade deal that opens up Chinese companies to us credit rating agencies and credit card companies. -Chinese relations are expected to continue to develop, some foreign policy experts warn that China has backed out on trade promises in the past.

China banned USA beef following a case of mad cow disease in the United States in 2003. Secretary of Commerce Wilbur Ross heralded the deal as a "herculean accomplishment".

Under the new agreement between the two nations, China is to start accepting imports of USA beef no later than July 16, 2017 with conditions stipulated under the 1999 Agricultural Cooperation Agreement. The deal is the final hurdle to reopening the Chinese market for US beef after a 14-year absence and sets clear action steps to open the market. "We do not intend to endanger anybody's health or safety in the United States", he said. He joined a bipartisan group of Senators last month who sent a letter to President Trump urging him to raise the issue with Chinese President Xi Jinping when the two met in Washington.

China is turning more to natural gas as a way to reduce its dependence on coal and combat the country's extensive air pollution.

Trump had pledged during his presidential campaign that he would stop trade practices by China and other countries that he deemed unfair to the United States.

Access to USA financial institutions in the Chinese bond underwriting market.

The two sides didn't discuss whether the US would join the Asian Infrastructure Investment Bank, Ross said. Later asked about concerns with this move, Ross referred to Dow Chemical, stating that that company has indicated that, as long as the LNG exports don't exceed 15-30 percent of total output, "It should not be a problem for domestic chemical companies".

By the same deadline, China shall issue any further guidelines and "allow wholly USA -owned suppliers of electronic payment services (EPS) to begin the licensing process".

America's trade deficit in goods and services with China totaled $310 billion a year ago, by far the largest imbalance with any country.

China's middle class has grown exponentially in recent years. It is part of 100 days of talks created to ease trade friction between the world's two largest economies, with tensions stoked by Donald Trump's complaints over the trade imbalance and Chinese market barriers. Both countries got together twice a year.

"Both sides have a deep and close understanding that the U.S".

But with China, which accounts for half of America's trade deficit, Washington is now assuming a starkly different attitude. -China Comprehensive Economic Dialogue, according the the Department of Commerce.

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