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China, U.S. reach terms on beef, gas

China will open its borders to U.S. beef while cooked Chinese poultry is closer to hitting the American market as part of a U.S.-China trade agreement.
Deal could reduce trade gap; others have faltered

WASHINGTON — China will finally open its borders to U.S. beef while cooked Chinese poultry is closer to hitting the American market as part of a U.S.-China trade agreement.

Trump administration officials hailed the deal as a significant step in their efforts to boost U.S. exports and narrow America’s trade gap with the world’s second-largest economy.

The United States would also allow companies to ship liquified natural gas to China as part of the bilateral agreement reached following President Donald Trump’s meeting with Chinese President Xi Jinping in April. The agreement covers a number of long-standing barriers in areas ranging from agriculture to the operation of American financial firms in China.

Commerce Secretary Wilbur Ross hailed the agreement as “a herculean accomplishment” forged in record time.

“This is more than has been done in the whole history of U.S.-China relations on trade,” Ross told reporters Thursday evening at the White House. “Normally trade deals are denominated in multiple years, not tens of days.”

But while the agreement touches on many of the barriers American companies have long complained about, it remains to be seen just how far China will go to allow more American exports. Previous administrations have hailed market-opening agreements, only to be left disappointed.

“The key in these negotiations is specifics that are enforceable — literally the devil is in the details,” said Scott Mulhauser, the former chief of staff at the U.S. Embassy in Beijing.

“The more these agreements include real, concrete outcomes rather than platitudes, rehashing old ground or punts to the future, the better they are.”

Trump made America’s massive trade deficit with China a major issue in his campaign and during the early days of his administration.

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