Lighthizer estimates $10-B bought by China so far
Trade Representative Robert Lighthizer says his office estimates China has purchased $10-Billion-dollars or more in U.S. ag goods this calendar year.
Testifying before the House Ways and Means Committee last week, Lighthizer said he believes China WILL fulfill its phase one commitments this calendar year but quantifying those purchases is a bit challenging.
“Secretary Perdue and I, we have a kind of a methodology to kind of give us a handle on it because the data isn’t designed to tell you what one country is doing in a purchase context. It’s more shipments and the like.”
Lighthizer pointed out that China bought a half-billion-dollars-worth of U.S. soybeans in the week before last and he expects the bulk of total purchases to occur this fall.