China Must Import More Hemp From U.S. Under New Trade Deal

China Must Import More Hemp From U.S. Under New Trade Deal

After years of being one of the United States’s main sources of hemp imports, China will now be required to buy a lot more of the non-intoxicating cannabis crop from the U.S. under a new trade deal. Hemp, which was federally legalized under the 2018 Farm Bill, is one of a long list of agricultural products that China agreed to import on a larger scale over the next two years as part of an international trade agreement that was signed on Wednesday. “The Parties acknowledge that trade and economic structural changes resulting from this Agreement and from other actions being taken by China to open up its economy and improve its trade regime should lead to improved trade flows, including significant increases in exports of goods and services to China by the United States and other countries,” the accord says. “The Parties believe that expanding trade is conducive to the improvement of their bilateral trade relationship, the optimal allocation of resources, economic restructuring, and sustainable economic development, given the high degree of complementarity in trade between them. The Parties recognize that the United States produces and can supply high-quality, competitively priced goods and services, while China needs to increase the…

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Source : MJ moment
Link to original : China Must Import More Hemp From U.S. Under New Trade Deal
reposted by Cannabis News World

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