China’s Agricultural Imports under the Phase One Deal: Is Success Possible?

Xi He, Iowa State University
Dermot J. Hayes, Iowa State University
Wendong Zhang, Iowa State University

Abstract

We examine China’s committed agricultural purchases under the phase one trade deal and whether it can fulfill those commitments due to the COVID-19 pandemic. We review China’s actual agricultural imports from the United States and other countries up to the first quarter of 2020 and analyze trade deal obligations China must still meet by the end of 2020. We use prior seasonal patterns and US-China price differentials to predict China’s agricultural imports from the United States in 2020. We examine total agricultural and related products with special focus on corn, soybeans, cotton, sorghum, pork, and beef.