Trump signs ‘phase one’ of trade deal with China

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WASHINGTON, N.C. (WNCT) – Right now farmers across the east are monitoring the developments of the newly signed trade deal with China.

Some are hopeful that this deal will bring relief. 

Farmers in eastern North Carolina have felt the effects of trade tensions for years.

“There’s been significant impact on the market, considerable pain as a result of that…so I’m still feeling the effects of the retaliation for tariffs,” says farmer Mike Godley. 

In “phase one” of the new deal, China will buy up to 200-billion dollars in U.S. goods, including agricultural products.

Rod Gurganus is the Beaufort County Extension Director and he’s hopeful of the new trade deal.

“we’re expecting a huge impact, we’re hoping to see soybean prices increase with the added export potential that we’ll now have for soybeans going back to China we should see prices come back up we should hope to see more profitability for our farmers because again margins are so tight today,” he says. 

The trade war is not the only obstacle for farmers.

From hurricanes to droughts weather extremes are putting farmers in a tough situation.

“We hope to see these things and we’re optimistic that it will have positive outcomes –but at the same time we are a bit skeptical because this is something that I don’t believe will be fixed overnight,” says farmer Archie Griffin. 

Farmers want people to understand the influence agriculture has on the local economy.

Rod Gurganus tells 9OYS when farmers aren’t doing well generally the local economy is going to suffer too. 

Moving forward, on Twitter President Trump says, “At a later date I will be going to Beijing where talks will begin on Phase Two!”

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