West Texas farmers optimistic as President Trump strikes partial - FOX34 Lubbock
West Texas farmers optimistic as President Trump strikes partial trade deal with China
LUBBOCK, Texas -
For the first time in the 18-month trade war with China, an agreement has been reached.
President Trump announced a partial, first-phase deal Friday that will likely stall the next round of tariffs, in exchange for China to purchase about $30 billion more of American agricultural products per year.
Kody Bessent, with Plains Cotton Growers, said this progress could not come at a better time with harvest season kicking off.
"Hopefully this will help drive some of the price aspect, but also we still have to look at the economic factors. There's a lot of supply and demand in the market, and with China coming back in, hopefully buying a robust amount of our products will help spur the market going into the 2019, 2020 and 2021 crop years," Bessent said.
Bessent added this agreement gives farmers and producers renewed optimism for a game-changing deal, something President Trump has promised since the beginning of this trade war.
"It's just one phase of many that could lead to a more formalized agreement that will hopefully have a long-term impact for Ag production in this region and across the U.S," Bessent said.
West Texas farmer Dale Artho said he understands it may take a couple years for a complete deal to be finalized, but he also said he has a strong message to President Trump and his administration.
"Keep doing what you're doing because you're bringing them to the table, not only for free trade, but for fair trade, and I think that's important for my kids, my grandkids, and the future of this country," Artho said.