China Phase 1
On Sept. 16, the International Trade office hosted the China Phase 1: Realizations and New Crop Outlook webinar. Iowa Secretary of Agriculture Mike Naig was joined by U.S. Meat Export Federation CEO Dan Halstrom and U.S. Soybean Export Council CEO Jim Sutter. The esteemed panel provided viewpoints on the latest ag policies and a current Phase 1 overview on the meat and soy trade for this vital market.
Secretary Naig kicked off the event with insights and recaps of the importance of the Phase 1 agreement, including where current progress stands in meeting those requirements by China. He addressed some key measuring points to monitor over the next year.
Halstrom, a native of Cherokee County, Iowa, shared current perspectives on meat trade trends in China. He outlined that while trade tensions exist, the supply and demand factors within China favor continued increases in exports of U.S. beef and pork.
Sutter opened with a historical perspective on China, detailing how USSEC first made visits to China in 1982 and opened an office in the late ‘80s. The net benefits of the trade impact took roughly 10 years to see growth, and the past 15 years the significance continues to be magnified. He outlined how early 2020 sales to China had seen challenges, but September was a record volume month.
All three speakers echoed comments that the China market is essential to both Iowa and U.S. agricultural interests, and continued support and verification on Phase 1 agreement guidelines will benefit farmers and the U.S. economy overall.
Recordings for all webinars are available at https://iowa1.sharepoint.com/:f:/s/InternationalTrade/EhOprZCZGH1Bs55lIr9xE1gBHbIHKkS0B8ipPsr40xJX9Q?e=UmmLgF
Read the Fall 2020 issue of the International Update here.