Agriculture effected by Coronavirus
Agriculture effected by Coronavirus
Ongoing concerns about the growing amount of deaths and new cases related to the coronavirus are having an impact on Agriculture and commerce.
The White House's top economic adviser, Larry Kudlow said China's coronavirus would delay a surge in U.S. exports to China expected from the Phase 1 trade deal set to take effect later this month. On Fox - he also did his best to tamp down fears of those in Agriculture.
China has not formally asked for consultations on meeting a commitment to buy $200 billion in U.S. farm goods, energy products and other goods and services over the next two years. The deal, signed last month by President Donald Trump, will go into effect on Feb. 14.
Kudlow said he didn't "wish China any ill whatsoever," but said the coronavirus could spur business investment in the U.S.
"You may get a step up in production here in the U.S., which would be very beneficial," he said.
The White House adviser said there could be a decrease in exports and production in China, particularly in the pharmaceutical sector, and "some things kind of in the middle when you get to automobiles and auto parts, but there is a lot we don't know."
