U.S. regains access for beef exports to huge Chinese market

Commerce Secretary Wilbur Ross takes a question during the daily press briefing at the White House in Washington

In Beijing, Vice Finance Minister Zhu Guangyao told reporters that the early results of the agreement showed that economic collaboration between the two sides "couldn't be closer".

"It's another encouraging sign that Trump's willing to cooperate with China rather than adopt the confrontational and protectionist stance he threatened during the election", said Julian Evans-Pritchard, an economist at Capital Economics, about Thursday's agreement. The forged deal marks a promising shift in Chinese-American relations under the Trump administration.

While Trump has said that he was willing to agree to less favorable trade terms for the United States in trade negotiations with China in order to enlist China' support in stopping North Korea's aggressive nuclear and ballistic missiles programs, Ross said there was no "quid pro quo in these discussions".

Joshua Meltzer, a senior fellow in the Global Economy and Development program at the Brookings Institution, called Ross's characterization "an overstatement, to put it mildly", but said the agreement marked a positive initial step to come out of the renewed US-Chinese comprehensive economic dialogue.

In financial services, China said it would begin allowing wholly foreign-owned financial groups to offer credit rating services in China by July 16.

"Opening the market for electronic payments is mainly symbolic", said Ker Gibbs, chairman of the American Chamber of Commerce in Shanghai. "We will once again have access to the enormous Chinese market, with a strong and growing middle class, which had been closed to our ranchers for a long, long time", Perdue said. "This should have been done years ago when it would have made a difference. At this point, the domestic players are well entrenched so foreign companies will have a hard time entering the China market".

Restoring trade with China would give US beef access to 1.4 billion new customers - a fifth of the world's population - and a middle class that is larger than the entire population of the USA, he said.

The Coca-Cola Company Posted losses of -0.3% in the Last Trade
Following the transaction, the insider now directly owns 149,185 shares in the company, valued at approximately $6,479,104.55. The Coca-Cola Company (KO ) is an interesting player in the Consumer Goods space, with a focus on Beverages - Soft Drinks.

The United States should be cleared to start exporting beef to China by mid-July.

China's ban on US beef dates to 2003, following an outbreak of the bovine spongiform encephalopathy ('mad cow's disease).

MasterCard welcomed the announcement, saying it looked forward "to having full and prompt market access in China".

While the 10-point agreement is mainly about China's promises to open its market wider to United States firms and buy more of their products, Washington has also promised to facilitate Chinese bank entrance into the U.S. market and to allow sales of cooked poultry products. "As long as they can comply with the normal rules, they will get access".

It's been almost 14 years since China banned imports of US beef following the December 23, 2003 announcement that a Holstein cow had been diagnosed with BSE.

"Because the risky foot-and-mouth disease (FMD) is endemic in China, we need assurances from the Secretary of Agriculture that we are not entering a quid pro quo with China as we did with Brazil, with which we agreed to relax our FMD restrictions in return for renewed access to the Brazilian market". "I guess that helps with the administration's focus on the deficit, but it would be good to see some action on Made in China 2025 and the other very aggressive industrial policies".

"That's going to be the challenge, and hopefully the Trump administration doesn't start declaring victory", he said.

Related News:

  • Google to Bring Standalone VR Headsets to Market This Year

    Google to Bring Standalone VR Headsets to Market This Year

    In any case, it's a big improvement over the existing Daydream holster, which only detects head tilt and not position. It is more focused on movement tracking, dodge, lean, duck and wish.
    Mnuchin: Administration Doesn't Support Reinstating Glass-Steagall Act

    Mnuchin: Administration Doesn't Support Reinstating Glass-Steagall Act

    All three have substantial footprints in commercial and investment banking, so their business models would be buffetted. WARREN: We are in - we are in favor of a bill that is called breaking up the banks, only don't break up the banks.
    IPL 2017 55th Match: Supergiants qualify for playoffs, Kings XI miss out

    IPL 2017 55th Match: Supergiants qualify for playoffs, Kings XI miss out

    Mumbai Indians (MI) and Rising Pune Supergiant ( RPS ) will face each other in the Qualifier 1 on May 16 at the Wankhede Stadium. MI consistency in the performance is indicated by the fact they finished at the top of the points table after the league stages.
  • Pune: 21-year-old gets mom's womb in India's first uterus transplant

    Pune: 21-year-old gets mom's womb in India's first uterus transplant

    In what is the first transplant of its kind in India, a 43-year-old mother has donated her uterus to her 21-year-old daughter. The uterus will be removed so that the patient does not have to keep taking immunosuppressant drugs to keep rejection at bay.

    Japan scrambles jets over China drone flight near disputed islets

    Thursday's scrambles were the first by the Self-Defense Forces against a drone, according to Defense Ministry officials. The coast guard ordered the Chinese vessels to leave the waters and they did so almost two hours later.

    Cleveland Cavaliers book Eastern Conference play-off final spot

    However, from there, the Cavs finished the quarter with a 15-5 run and the two teams were tied at 28 after one quarter. Tucker started his first game in the playoffs in place of Lowry. "It's probably our best stretch of basketball".
  • Camila Cabello's Crying in the Club video's an EMOTIONAL ROLLERCOASTER

    Camila Cabello's Crying in the Club video's an EMOTIONAL ROLLERCOASTER

    I had to pick my jaw up off the floor after watching this video for the first time. I'm way too young to be this hurt...
    Girls Have Reportedly Been Released By Boko Haram

    Girls Have Reportedly Been Released By Boko Haram

    Numerous kidnapped girls, most of whom were Christians, were forced to marry the Islamic extremists and became pregnant. Chibok school girls recently freed from Boko Haram captivity are seen in Abuja , Nigeria, Sunday, May 7, 2017.
    Chinese-Made Passenger Jet Takes Off For Its First Test Flight

    Chinese-Made Passenger Jet Takes Off For Its First Test Flight

    The plane can come with 155-175 seats and has a standard flight length of 4,075 kilometers (2,530 miles). Single-aisle plane can carry up to 168 passengers and is meant to rival Airbus and Boeing aircraft.
  • AG Sessions tells prosecutors to seek 'most serious' charges

    Rosenstein, who has come under criticism in recent days for the firing of former Federal Bureau of Investigation director James B. Sessions stated that the directive could interfere with the Bureau of Prisons' need to host more inmates in the future.

    Almodovar and Smith's comments on Netflix at Cannes

    With Netflix they get the benefit to watch what they never would have seen, it brings great connectivity to them to the world. Three years ago European Parliament had backed a motion urging anti-trust regulators to get tough on Google.
    Arsenal Win Keeps The Pressure On Manchester City And Liverpool

    Arsenal Win Keeps The Pressure On Manchester City And Liverpool

    Wenger claimed not to have noticed the massive number of empty seats inside the stadium or to care about them. It would be the first time you make 75 points and aren't in the top four". "I'm quite surprised", he said.


Most liked

Moto C and Moto C Plus launched as super affordable smartphones
In an effort to keep pace with its smartphone rivals, the upcoming device is expected to run on the latest Android 7.1 Nougat. The company claims that the smartphone can offer up to 30 hours of battery backup and it also supports fast charging.

Cannes apologizes for projection snafu with Netflix's 'Okja'
That is unusual for a director, ' he said. "I think it's an enormous and really interesting conversation that's just beginning". For 10 years, Mija ( An Seo Hyun ) has been a companion and caretaker to Okja at her home in the mountains of South Korea.

State has good leaders, but system is rotten: Rajini
Stalin will do wonders if he is given a free hand". (PMK's) Anbumani Ramadoss is well-educated, has modern thoughts.... While the actor in his movie Baba (2002), continued to give some hints of a political entry.

Microsoft's President Reflects On Cyberattack, Helping Pirates And The NSA
But some organizations didn't apply it, and others were running older versions of Windows that Microsoft no longer supports. The virus, nicknamed WannaCry , infects Windows computer systems that have not received the latest security update.

Shruti Haasan, the warrior princess
For the Shruti has also been training really hard in physical combat, and sword fighting to prepare for the warrior role. As indicated by reports, the film is said to rotate around Shruti Haasan, who plays the main character in the film.

Celtics follow euphoria of winning lottery with dud on court
If not to have first choice of the best available player, then to make sure your pick has as much trade value as possible. The Celtics, of course, gave up their top guys in the trade , so they had to play the waiting game.

Colorado man to be freed early now in immigration custody
It is noted that no shots were fired and no one was injured in any of the robberies that Lima-Marin committed. Rene Lima-Marin was sentenced to 98 years in prison for robbing two video stores in 1998, CNN reports .

Browns sign Texas A&M's Myles Garrett, 1st overall pick
Brantley started 22 of the 38 games he appeared in at Florida where he totaled 81 tackles, 20 tackles for loss and 2.5 sacks. The Cleveland Browns won't have to worry about number one overall pick Myles Garrett holding out of training camp.

US extends Iran nuke sanctions relief, adds other sanctions
The timing is meant to show a hard stance on Iran - even as the administration continues to comply with the Iran nuclear deal. During his presidential election campaign, Candidate Donald Trump vowed to "dismantle the disastrous deal with Iran".

Oops! Bella Hadid Suffers Wardrobe Malfunction At Cannes
This is the model's second consecutive year at the festival and she had suffered a similar mishap at the red carpet last year . Overshadowing some of the younger red carpet stars , the U.S. actress flaunted her curves in a stunning Alberta Ferretti gown.

Reporter says he was roughed up by security guards at FCC
At least one comment included a death threat against Pai and his family, and there have been protests outside his house. A pair of Senate Democrats are separately pressing the FCC for answers about the treatment of CQ Roll Call's John M.

Warriors trounce Spurs without Leonard for 2-0 series lead
He can't do it. "Somebody's got to teach him if the California Highway Patrol tells you to move, you move over, " Popovich said . Leonard then landed on Pachulia's foot, further tweaking his already-sprained left ankle. "Obviously, thinking a little bit".

GST Council: Jaitley, state ministers meet in Srinagar amid tight security
He said as a member of the GST council, Odisha had been actively participating in the design of the legislation. The Finance Minister said the GST is perhaps India's largest and most significant tax reform.

Sweden drops case, but WikiLeaks' Assange not in the clear
Sweden's top prosecutor says she is dropping an investigation into a rape claim against WikiLeaks founder Julian Assange after. Ny said the case could be reopened if Assange comes to Sweden before the statute of limitations expires in 2020.

Trump son-in-law family apologizes for China name drop
Meyer noted that if investors put at least $500,000 into the Kushner-family backed project, they could qualify for an EB-5 visa. Kushner Companies apologizes if that mention of her brother was in any way interpreted as an attempt to lure investors.