Farmers are willing to take a short-term hit on a good US-China trade deal: American Farm Bureau VP
American Farm Bureau Federation VP Scott Vanderwal discusses how the U.S.-China trade war is affecting American farmers.
As the United States and China continue to hammer out a trade deal, it may be too late for farmers who have pressing decisions on what to plant and grow.
"The farmers are willing to take a hit short term, but want to make sure that a good deal is negotiated for them," American Farm Bureau Federation vice president Scott Vanderwal said on FOX Business' “Countdown to the Closing Bell” Thursday.
As part of a preliminary agreement, the Chinese have agreed to buy $30 billion worth of Soybeans from the U.S. However, Scott says that is not enough.
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“We hope China buys even more than that" adding that "During the trade war some of the surplus Soybeans were bought by other countries but at a lower price.”
The likelihood of the U.S. and China reaching a trade deal is “75 percent to 80 percent,” according to Vanderwal.