Economic and Trade Agreement – USA/China

Autor Aleksandra Konarska
Tiempo de lectura 9 minut
Fecha de publicación 04 agosto 2020
Índice

As states the Economic and Trade Agreement Between the Government of the United States and the Government of the People’s Republic of China (Economic and Trade Agreement) signed 15 January 2020, the latter acknowledges the US dairy safety system as at least as strict as China’s. Thus, the confirmation of food standards is no longer required. The companies and plants producing infant formula and dairy that are on the list of the US Food and Drug Administration (FDA) are in compliance with the standards.

However, even with those regulations aiming to facilitate the trade, the numbers are not pleasing. By the end of May 2020, imports of farm goods from the USA were lower than the level of 2017 by 31% and totaled $6 billion. The trade deal implied a 50% rise in import, which in the light of current events – does not seem very likely.

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