KANSAS CITY, Mo. – Is there such a thing as a necessary trade war? With China as the opponent, some agriculture industry stakeholders believe so, and they are optimistic that the US ag industry will emerge from this volatile period with better market access to China. Ken Sullivan, president and CEO of Smithfield Foods, a unit of China-based WH Group, told an audience at the Wall Street Journal’s Global Food Forum that the tariffs are hurting the industry and Smithfield, but the fight is necessary.
Gregg Doud, chief agriculture trade negotiator with the Office of the US Trade Representative (USTR), in remarks at the Ag Outlook Forum, said there is no good time for tough discussions like those facing the US and China, but “it’s time to deal with it,” he said. The ag sector has long argued that the US doesn’t have a good trade deal with China, and in this video, Doud explains how bad it really is and why now is the time to get tough.