Traders hope for less volatility with China
China has issued its congratulations to presumptive President-elect Joe Biden, signaling the start of its relationship with the incoming administration.
Joel Haggard, senior vice-president of the Asia-Pacific Region with the US Meat Export Federation, who is based in Hong Kong, tells Brownfield traders are looking forward to a less volatile trading relationship. “Traders like stability,” he says. “Traders are like just tell me what the regulations are, tell me what the duties are, and tell me what the rules are – and then don’t change them. I’ll do my business as long as I know there is a stable trading environment.”
As for the duties that remain, Haggard says, “as far as what happens with some of these other lingering access issues we have with China, that remains to be seen.” The trade war between the US and China began in July 2018 and the US and China signed its phase one trade deal in January 2020.
Haggard spoke with Brownfield during the USMEF’s Virtual Strategic Planning Conference.
AUDIO: Joel Haggard, US Meat Export Federation