LaHood aiming for further success on the trade front, including China phase 2
US Representative Darin LaHood from Illinois says the rebound in commodity prices can be attributed to progress on the trade front, an area that needs to continue to strengthen.
LaHood serves on the House Ways and Means Trade Subcommittee and he tells Brownfield while the phase one deal with China created under the Trump Administration is not perfect, China has ramped up their purchases of USA ag goods, and livestock farmers are also benefitting from that administration’s deal with Japan.
“This has helped to turn around commodity prices and put ag on the right track. As we look forward to the future there are other opportunities with the European Union, the United Kingdom and countries like Kenya, India and Brazil that would benefit US farmers.”
LaHood says he is working with his colleagues and the Biden administration to reauthorize the trade promotion authority before it expires in September to prioritize future free trade agreements including phase two with China.
“We want their market for our products. They have a middle class of around 500 million people which is very attractive to corn and soybean farmers. But on the other hand, we also know they are an adversary and continue to work against us in the national security area, technology and intellectual property.”
He hopes the Biden Administration will remain forceful on those topics with China and try to pick up where phase one left off.