Today the U.S. potato industry welcomed the signing of the Phase One Agreement reached between the United States and China by President Trump and Chinese Vice Premier Liu He at the White House. The agreement is expected to reduce tariffs and boost Chinese purchases of American farm, energy and manufactured goods.
“The U.S. potato industry welcomes the signing of this Phase One Agreement and hopes the agreement will bring new opportunities for the export of United States fresh and processed and potatoes to China,” said Larry Alsum, president of the National Potato Council (NPC).
The U.S. potato industry comprises a total annual value of $3.7 billion and exports 20 percent of its overall crop to international markets. China is currently a top 10 export market for potatoes, primarily in processed products. With a combination of competitive tariffs and enhanced market access, China could become a top five market in the near future.
“This signing today, coming on the heels of the new Japan free trade agreement and the anticipated ratification of the USMCA, creates trade momentum for our industry and sets the stage for future increased market access that may result in substantial gains for U.S. growers,” said Jared Balcom, Vice President of Trade Affairs for NPC.