Got rice? That’s what China, the world’s largest consumer of rice, is now asking the U.S.
For the first time ever, Asia’s economic giant will allow imports of American rice, the U.S. Department of Agriculture announced Thursday. That comes as a welcome signal after annual trade talks between the two nations broke down this week without a concrete outcome. And although it is just a small part of an expansive trade relationship, the rice deal signals that, at least for now, the threat of a trade war is tabled as each side is still engaging the other.
Looking ahead, there could be more specific product agreements — like the rice deal — from the two countries because the Trump administration wants “something measurable … that they can brag about,” said trade expert William Reinsch of the Stimson Center. He pointed to an early success from the White House in putting the finishing touches on lengthy negotiations to allow American beef exports to China, ending a 14-year ban.
Read the full article here.