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Market Reports


June 4, 2019

       

Alltech supports 5th US-China Governors' Collaboration Summit

 

 

Organisers of the fifth annual US-China Governors' Collaboration Summit, supported by Alltech, took place in Lexington, Kentucky as trade ties between the two countries worsen, the Irish Times reported.

 

US governors and Chinese business and political leaders meeting have vowed to deepen business and trade links despite a trade war between the two countries deepening.

 

The organisers say they hope the gathering furthers political and economic interests between the countries "at the subnational level". Participating US state-level politicians see it as an attempt to circumvent the dispute driven by president Donald Trump's tariffs regime.

 

The summit is organised by the bipartisan National Governors Association, a powerful lobby group, and the Chinese People's Association for Friendship with Foreign Countries (CPAFFC). Among the influential political and industry leaders in attendance are China's ambassador to the US, Cui Tiankai, Tang Liangzhi, the mayor of Chongqing, and Xu Chen, the CEO of Bank of China USA. Representing the US are the governors of Kentucky and Tennessee, and vice and lieutenant governors from Washington state, Michigan and Colorado.

 

Questions raised to the CPAFFC on whether tariff-related issues were discussed at the summit went unanswered, but the Chinese view is that Trump's criticisms of China have been made for the benefit of "political needs at home", a foreign ministry spokesperson said. Representatives of the US delegation also declined to comment on specific trade issues but said continuing ties are important.

 

"On the 40th anniversary of diplomatic relations between the United States of America and the People's Republic of China, we recognise that the vital commercial relationship between our two nations is complex and always evolving. We also recognise that the terms of that relationship are set by the national governments in Washington and Beijing," said a spokesperson for the National Governors Association.

 

At the Alltech ONE19 ideas conference held earlier in May, Mark Lyons of Alltech told reporters it was his view that getting a trade deal could take some time.

 

"The way of negotiating is very different in the countries. I was pretty optimistic that this would be all wrapped up (by now); I don't think that's going to happen quickly. (However), there are some things changing that would give me some optimism on the agriculture side," he said.

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