DES MOINES — On Wednesday, January 15, President Donald Trump and Chinese Vice Premier Liu He singed phase one of a heavily negotiated trade deal.
The $200 billion deal ended a 18-month standoff between the world’s two largest economies that caused significant economic issues worldwide.
Governor Kim Reynolds, who attended the signing, voiced her strong support of the deal in a statement made the same day.
“Today, President Trump secured a historic win for the American people. Forging a stronger trade agreement with China puts Iowa farmers, families, and small businesses first,” Reynolds said. “It was an honor to attend the signing ceremony, at the invitation of the President, and witness such an iconic moment.”
Part of the deal will help American farmers who were hit particularly hard by the 18 months that passed without a deal with China in place.
According to the agreement, agricultural exports to China will increase by $32 billion over two years based on 2017 levels.
“By opening and expanding markets for our products, protecting intellectual property, and setting standards for currency valuation, President Trump has provided the American economy with a foundation for exponential growth and economic prosperity.”
“I want to commend the President and his entire team, including Ambassador Branstad and trade Ambassador Lighthizer for being a staunch advocate for American farmers and workers. I look forward to working with the administration to build on the progress made today,” Reynolds said.