China OK's US beef, and US does same with Chinese poultry

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We look forward to providing almost 1.4 billion new customers in China with the same safe and delicious USA beef that we feed our families.

Regular LNG exports from the USA would supply China with a fuel that is in high demand because it burns cleaner than coal and oil, and is therefore becoming the fuel of choice for electricity generation, along with renewable sources.

China imports of US liquefied natural gas picked up a year ago after Cheniere Energy Inc. launched the first in a wave of new plants created to liquefy and export abundant USA shale gas.

"This will let China diversify, somewhat, their sources of supply and will provide a huge export market for American LNG producers", Ross said.

The trade deals contained mixed news for USA food producers.

NORTHAM: For its part, the Trump administration will allow imports of cooked poultry from China.

Chinese Vice Finance Minister Zhu Guangyao, speaking at a briefing in Beijing to announce the agreements, deflected questions about details, repeatedly describing the measures as "balanced".

"According to a US government report released in January, "Chinese policies are distorting markets in ways that undermine innovation, subtract from usa market share", and, because of the chips' uses in critical infrastructure, "put usa national security at risk".

In return, the USA and China are to resolve outstanding issues for the import of China-origin cooked poultry to the U.S.as soon as possible after reaching consensus.

The talks with China are latest in a series of actions since President Trump took office on 20 January aimed at remaking U.S. global trade relations.

"This was pretty much a herculean accomplishment to get this done", Ross said, praising the administration's latest achievements.

The agreement would also streamline the evaluation of pending US biotechnology product applications; pave the way for allowing American-owned suppliers of electronic payment services to begin the licensing processes in China and facilitate the entrance of Chinese banks into the USA banking market, among other measures.

A woman pushes her shopping cart past a display of domestically produced Chinese beef at a supermarket in Beijing, Friday, May 12, 2017.

It remains unclear how far China will go to allow more American exports. The US will also allow American companies to ship liquefied natural gas to China.

Cattle feeder Herman Shumacher said he hopes that exports to China will help bump up the USA cattle market but he said details are important.

China banned USA beef following a case of mad cow disease in the United States in 2003. The deficit with China represented about 60 percent of last year's total deficit of $500.6 billion.

Japan and the US also held economic talks last month in Tokyo.

Lack of infrastructure along US coastlines to allow for overseas gas shipments means it could take time for economic benefits to USA energy companies to materialize, said Jake Parker, vice president of the U.S.

"China has shown its sincerity by making compromises, and it showed that China is not just paying lip service [to addressing the bilateral trade imbalance]", said Yu Miaojie, the deputy head of the National School of Development at Peking University. In exchange, the US would allow the sale of cooked Chinese poultry — a move Ross said could be done safely.

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