Although Trump has repeatedly touted the 'phase one; trade deal as a win for American farmers, who were hit hard by the tariff war.
Trump said the initial trade deal he signed with China last Wednesday would be a boon for farmers, whom he thanked for sticking with him after he twice had to allocate multibillion-dollar bailouts for producers targeted by Chinese tariffs.
On Sunday, he will highlight the pacts before the American Farm Bureau Federation's annual convention in Austin, Texas.
House Speaker Nancy Pelosi said the initial draft of the agreement proposed by the Trump administration "left American workers exposed to losing their jobs to Mexico", high prescription drug prices and low environmental standards. "You never even thought of giving up and we got it done".
The Republican president wants another term in office and is seeking to shore up support among his base, including farmers. You have reached "paydirt" with our incredible new trade deals: CHINA, JAPAN, MEXICO, CANADA, SOUTH KOREA and many others!
The agreement will have a positive ripple effect for the U.S. agricultural sector at large and Beijing has agreed to purchase an additional $200 billion of USA goods and services over the coming two years. For example, the share price of Seaboard Corporation, one of the leading U.S. pork power plants, rose nearly 2% just one day after the trade agreement was signed by both countries. Analysts said the uplifted mood among American farmers is also being fired by the US Senate that adopted the US-Mexico-Canada agreement (USMCA) on January 16.
The Senate has overwhelmingly approved a new North American trade pact that rewrites the rules of trade with Canada and Mexico. "In fact, California's 26th Congressional District exports over $1 billion worth of goods and services to Canada and Mexico and over 24,000 jobs in Ventura County depend on U.S. -Canada-Mexico trade, including many in the agricultural industry, which is a proud part of our local heritage and critical to our local and regional economy".
The USMCA has been approved by the USA and Mexico, and awaits approval by Canada's government. The revised trade agreement passed the Senate in a bipartisan 89-10 vote and Trump is expected to sign it.
While the VP and three other Chinese officers stood to his right, Trump strayed from his remarks with criticism of the "fabrication" that he calls impeachment and of the way in which U.S. "That's what I get". Tell me. I am being accused by these radical left-wing madmen, "Trump said". I get impeached. But that's OK.
The good news for Trump is a spontaneous texting survey conducted by the 142-year-old Farm Journal magazine, which 83 percent of farmers think is good.