TERRE HAUTE, Ind. (WTWO/WAWV) – Next week, phase one of a new trade deal between the U.S. and China could be signed, and this could mean relief for many farmers.
According to a tweet from President Trump on New Year’s Eve, he says he plans to sign phase one of a deal with China on January 15th.
Part of the deal that is expected is an agreement from China to purchase more U.S. farming products, that would happen in exchange for lower tariffs on some Chinese goods.
Some local farmers say a lack of a trade deal has caused some financial losses but they are hopeful a new agreement will help.
“Profits would be back. There’s a profit in it right now but the margin is just really slim. I mean there’s not very much money to be made,” said Kegan Knust, Knust Farms manager.
Also in a post to social media, President Trump says he plans to travel to Beijing later to discuss phase two of the trade deal.