Trade deal welcomed

| December 17, 2019

U.S. tobacco exporters have welcomed the announcement of the recent trade agreement reached between the United States and China.

As part of the deal, China has reportedly agreed to buy more from the U.S. agricultural, manufacturing, energy and services sectors.

In the year preceding the U.S.-China trade dispute, the U.S. exported $162 million worth of tobacco to China, according to Pyxus International. Last year, that number decreased to only $4 million.

“The agreement is a welcome first step to reopening China’s vast consumer market to U.S. agricultural products including tobacco,” Pyxus wrote in a statement.

“While this compromise is only one piece of a much needed comprehensive trade agreement and additional steps need to take place to restart leaf exports, it is an encouraging move in the right direction, helping to foster enhanced trade and promote greater opportunities for success in the global economy.”

Category: Breaking News, Leaf

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