President Donald Trump tweeted Monday morning that a trade deal with China is likely to greatly benefit American farmers, targets in a heated trade war that appears to be cooling.
“China has agreed to buy massive amounts of ADDITIONAL Farm/Agricultural Products,” Trump tweeted, adding that the trade deal in the works “would be one of the best things to happen to our farmers in many years!”
“Under our potential deal with China, they will purchase from our Great American Farmers practically as much as our Farmers can produce,” the president added.
Trump also celebrated the possible reduction of trade barriers.
Following the release of a joint statement from the U.S. and China Saturday announcing the two sides had reached an agreement on trade, the Trump administration announced Sunday the trade war has been put “on hold.”
The agreement would, according to the statement released Saturday, “substantially reduce the United States trade deficit in goods with China.” The specifics for the deal remain unknown.
News of a possible deal comes after a couple of tense months, during which China and the U.S. threatened one another with tens of billions of dollars in trade tariffs. Chinese tariffs targeted American agricultural exports, such as pork and sorghum, but it seems the new deal will increase exports to China.
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