Roger Marshall : Womack Statement on Signing of Phase One Trade Deal with China

Washington, DC-January 15, 2020....Congressman Steve Womack (AR-3) issued the following statement on the announcement of the United States and China signing a Phase One trade deal, which requires structural reforms to deliver a stronger and more effective trade framework for America. Key chapters covered in the agreement include intellectual property, technology transfer, agriculture, financial services, and currency and foreign exchange:

Congressman Womack said, 'The Trump Administration has made it a priority to tackle China's predatory behavior and address inequities that have disadvantaged the United States for years. Today's signing is the result of concerted efforts to create a more level playing field for American agriculture producers and businesses, and it's another important step forward. Phase One provides an enhanced trade framework that will increase market access and economic opportunity in Arkansas and across the nation. We must continue to advance talks and secure a complete and fully enforceable deal. This news, coupled with progress on other agreements like the USMCA, shows how strong negotiations are ushering in modernized policies that reflect the realities of 21^st century trade.'

Rich Hillman, President of the Arkansas Farm Bureau, said 'Agriculture is vital to the Natural State, and Phase One marks a needed step in addressing important priorities. This action expands American agriculture sales to China, and we look forward to seeing a positive impact on Arkansas's economy. We thank members of the Arkansas Congressional delegation for their focus on this matter. While this progress is welcome news, we urge continued negotiations and concentration on securing a comprehensive deal.'

According to the World Trade Center Arkansas, Phase One could significantly impact Arkansas agriculture producers by boosting export opportunities. It is estimated that Arkansas farmers and businesses could see an annualized increase of up to $308 million in exports.

Congressman Steve Womack (AR-3) has represented Arkansas's Third Congressional District since 2011. He serves as the Ranking Member of the House Committee on the Budget and is a member of the House Appropriations defense and transportation, housing and urban development subcommittees.

womack.house.gov

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