Trump administration ‘happy’ about China's US agricultural binge: Wilbur Ross
Commerce Secretary Wilbur Ross on Tuesday said that the Trump administration is thrilled about China’s farm binge.
“We are happy that they're buying a bit more in the way of agricultural products … especially the pork,” he told Stuart Varney on Tuesday.
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China needs pork because it’s struggling to deal with the African swine fever, which annihilated its herd and caused prices to soar to record highs.
“As you know, something like half of all the hogs in China have had to be exterminated because of this swine infection,” Ross said. “And so we don't know if that's why or if it's just that they're loosening up trade. But whatever the reason, we're happy for it.”
Customers shop for pork at a market in Beijing on September 5, 2019. (Photo by STR / AFP) / China OUT (Photo credit should read STR/AFP/Getty Images)