How Coronavirus in China Impacts Phase One Trade Deal
RaboBank lowers its US and China trade expectations
Coronavirus continues its spread worldwide, and because of the severity in China, RaboBank has lowered its US and China trade expectations, reports Hoosier Ag Today.
But Erin Fitzpatrick, RaboBank senior analyst of grains and oilseeds, says there is going to be a positive story yet this year.
There’s not a lot of optimism that much trade will be happening between the US and China the first half of this year. Fitzpatrick says that’s not because China doesn’t want to abide by the agreement, but the fact that demand isn’t there because of coronavirus complications.
RaboBank does expect demand to be up year-over-year despite a rough first half of 2020.
Read the full report here.