Sino-U.S. Trade War to Sound the Alarm for Reform of China’s Agriculture

After the U.S. government announced to impose 25-per-cent tariffs on US $34-billion worth of Chinese foods, the spokesperson of the Ministry of Commerce pointed out on August 2 that bad things can turn into good things, challenges can turn into opportunities, and we have confidence in achieving the goal of high-quality economic development.

In terms of China’s agriculture products, in 2017, the imports value of agricultural products was USD 125.86 billion, up 12.8% YOY, while export value of agricultural products was USD 75.53 billion, an increase of 3.5%. China’s agricultural products import volume is increasing, and the trade deficit is also expanding. Facing the challenge of trade war, China will promote the transformation and development of agriculture and improve the quality of agricultural products through seizing opportunities and deepening reforms.

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