Amid growing tensions between the two titans United States of America and China, this trade relation is a warm welcome towards growing trade relations between the two countries. China has started importing farm products from the US. An official of the commerce ministry of China assured on Tuesday that its decision to purchases agricultural products from the US would not affect its imports from other countries.
China welcomed with open hands the competitive U.S. products in its market with the hope that the US would also create conducive conditions for the exports to China. With the success of this deal, China plans to open its markets for more imports of products from the United States. China has signaled that based on the prevailing market conditions and under the rules set by the World Trade Organization, there will be an expansion in imports from the U.S.
As part of an initial trade deal between the two major economies of the world, Beijing approved to purchase the US farm products mainly. The deal was cemented last week; however, there still are apprehensions regarding some unsolved issues.
After years of sanctions and restrictions being imposed on U.S. based companies and products, this opening of the Chinese market signals for a new trade revolution. The move has been welcomed by other countries with happiness.