(Washington, D.C.) -- Iowa Congresswoman Cindy Axne says a trade deal signed Wednesday between the U.S. and China looks like a good thing for the state.
President Trump signed the deal that would increase Chinese purchases of U.S. products by nearly $200 billion over the next two years, with around $32 billion in agriculture purchases. The agreement signals a pause in a nearly two-year-long trade war between the two largest economies in the world. Axne says she wants to see the entire agreement in writing before reaching an overall conclusion, but on the surface she is pleased with parts of the deal.
"One of the key things this does address is intellectual property, which for our ag community is really important too," said Axne. "So much of what we do from an agriculture perspective -- whether it's John Deere and their implements and making sure we continue to be a leader when it comes to that part of agriculture from a manufacturing perspective. We don't want people stealing our information."
Axne says between a deal with China and USMCA nearing completion in the Senate are both welcome news for Iowa's farmers.
"This trade war has been a really difficult thing for our state," said Axne. "We need to get this done. I'm glad to see that the first phase is here and I hope that it's a signal that we're going to continue to end this harmful trade war with this phase one agreement and that we can get to phase two which will result in more purchases of agricultural from Iowa and other American states."
The President did not eliminate a 25 percent tariff on goods purchased from China. He says that step will wait for phase two of the deal.