China-U.S. Trade Deal Expands Access to Beef, Natural Gas and Financial Services

Caixin

China and the United States will expand trade in beef and chicken and increase access in China to foreign financial services firms as part of a broader effort to begin reshaping trade ties between the world’s two largest economies, China’s deputy finance minister said Friday.

The agreement that allows U.S. beef to be sold in China starting on July 16 and for cooked poultry from China to enter the U.S. market follows nearly 30 rounds of negotiations over the past four weeks, Zhu Guangyao said at the weekly news briefing organized by the State Council, China’s cabinet.

Trump administration officials have hailed the 10-part agreement, which also allows U.S. natural gas to flow into China, as a “herculean” accomplishment.

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