Washington Watchers are looking at the markets closely as the start of a new week begins. That’s because President Trump announced Friday the U.S. and China are at the beginning stages of a trade agreement. It’s an agreement President Trumps says will take weeks to be written and penned on paper.
“To quote President Trump, this is a very substantial Phase 1 part of a two to three phase deal,” said Farm Journal Washington Correspondent, Jim Wiesemeyer. “But agriculture is basically done in this Phase 1 that now has to take three to five weeks to be written into a final agreement.”
Clinton Griffiths, the host of AgDay, has analysis with Wiesemeyer on how much China has purchased from the U.S. in the past compared to the proposed $40 billion to $50 billion.