The world's largest rice consumer has become a customer for The United States. The trade talks between US and china is no news. However, the progress that is shown in this trade relationship is little to nothing. While it has been feared that the trade talks will be for naught, not benefitting both the countries, the current agreement for US rice export shows hope.
Historical agreement
The democratic superpower and the communist superpower was trying to establish a trade relationship that will benefit both the nations. Important delegates from the two superpowers have come together to discuss and sign a mutual benefiting trade relationship.
However, despite days of negotiation, the delegates cannot come to terms to sign any form of trade relations. The public and the media had the impression that the meeting of delegates will bear no fruits. It is anticipated that the two countries will not shake hands towards an economic relationship.
It is at the moment when all hope is lost and the public was less enthusiastic of the trade talks. The delegates of The United States and China signed their trade agreement on rice imports, allowing rice to be imported from the United States to China.
Benefits for The United States
Secretary of Agriculture Sonny Perdue released the official statement that the United States Department of Agriculture has finalized the protocols for rice export to China.
He further stated, "This is another great day for U.S. agriculture and, in particular, for our rice growers and millers, who can now look forward to gaining access to the Chinese market. This market represents an exceptional opportunity today, with enormous potential for growth in the future." Sonny Perdue also let us know that this historical day is a cumulation of ten years worth of efforts.
This agreement will reap numerous benefits for the United States businesses, agriculturist, and exporters. Some of the benefits are:
- Rice export agreement for the largest rice consumer in the world (China).
- Statistics state that China is the largest importer of rice, since 2013.
- Rice manufacturers and rice producers that follow the protocols of the agreement will be allowed to export their produce to China.
- Reports state that China has imported 5 million tons of rice, last year.
The above mentioned are the very few of the numerous benefits of U.S.- China trade. This agreement allows The U.S. to trade in a very vast and important rice market.
