USDA chief says U.S. working to diversify ag trade away from China

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WASHINGTON (Reuters) – U.S. Agriculture Secretary Sonny Perdue said on Thursday that the United States “probably made a mistake” becoming too trade dependent on China and added that the administration was pursuing trade deals elsewhere.

U.S. farmers have been hit hard by the Trump administration’s ongoing trade dispute with China, which has shut off billions of dollars worth of agricultural trade between the giant economies.

“We probably made a mistake, frankly, I’d say in hindsight, in becoming too dependent on that huge China market,” Perdue told a gathering of the North American Meat Institute forum in Washington. “When you have so much of your business in one big customer, disruptions like this can mean pain. I think our strategy is to go around the world.”

Read more at : https://www.investing.com/news/commodities-news/usda-chief-says-us-working-to-diversify-ag-trade-away-from-china-1634083

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