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Cotton Farmers Hoping for Boost to US Cotton Exports with US China Phase One Trade Deal

Cotton Farmers Hoping for Boost to US Cotton Exports with US China Phase One Trade Deal
The National Cotton Council believes the Phase 1 trade deal with China signed today by President Trump could provide a much-needed boost to U.S. cotton exports.
 
The Phase 1 agreement includes a chapter on agriculture with Chinese purchases of U.S. products intended to reach at least $40 billion per year starting in 2020. However, the overall impact for cotton remains uncertain as commodity-specific details have not been released.
 
NCC Chairman Mike Tate, an Alabama cotton producer who was at the White House for the signing, said, “While we welcome Phase I and are hopeful about the potential for future increased sales to China, U.S. cotton producers continue to face a challenging economic climate. As such, we encourage President Trump and USDA to follow through with the third tranche of MFP payments as quickly as possible.”
 
 
 
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