Grassley Brushes Off Ag Sales Claims in Phase 1 China Deal

Although Senate Finance Committee Chairman Chuck Grassley represents Iowa, a major pork, corn and soybean exporting state, he's not concerned about the figures President Donald Trump touted as he described the outlines of a Phase 1 deal with China. Trump said China would be buying up to $50 billion in American commodities; other administration figures later clarified the promise was for $40 billion to $50 billion, and it would ramp up over two years.

Grassley said Oct. 22 that China's purchases will be based "on what China can consume and when they need it." He also expressed no concern that American farms cannot produce enough commodities to sell $40 billion worth a year to China. (The most China ever purchased in a year was $29 billion, in 2013.) "If we don’t and China needs that amount, there’s going to be some farmers somewhere in the world can sell it," he said Oct. 22.