U.S., China sign 'Phase One' trade deal
U.S. Secretary Sonny Perdue issued the following statement after President Donald J. Trump signed the historic Phase One Trade Agreement between the United States and China:
“This agreement is proof President Trump’s negotiating strategy is working. While it took China a long time to realize President Trump was serious, this China Phase I Deal is a huge success for the entire economy. This agreement finally levels the playing field for U.S. agriculture and will be a bonanza for America’s farmers, ranchers, and producers,” said Secretary Perdue. “China has not played by the rules for too long, and I thank President Trump for standing up to their unfair trading practices and for putting America first. We look forward to exporting to Chinese customers hungry for American products.”
"This is definitely good for customer sentiment. Hopefully it moves things toward a sense of optimism. However, I think things will actually show up at the dealership when prices for commodities move up," says Tom Rosztoczy, president of Stotz Equipment, a John Deere dealer with 25 locations in 8 western states. "The deals will have to impact demand for products and drive up prices to actually have a positive impact on our customers' bottom lines and then their spending with us."