China pledged to lift its ban on U.S. pork today and the United States took a step toward easing restrictions on chicken imports as the two superpowers agreed to tackle a series of trade irritants, according to Reuters. The flurry of trade accords between China and America comes ahead of President Barack Obama"s visit to China in mid-November to reach agreements on currency, the environment and trade with its second-largest trading partner and the largest foreign holder of its government debt. China"s promise on pork sent U.S. hog futures higher on Thursday and also lifted the stock of Smithfield Foods Inc, the largest U.S. hog and pork producer. "We"re going to work through whatever details remain to try to get this done as expeditiously as possible," U.S. Agriculture Secretary Tom Vilsack told Reuters during a telephone interview from Hangzhou, where the countries held trade talks. China is a top buyer of U.S. meat, chicken, soybeans and other products, purchasing $560 million worth of pork in 2008. China imposed the ban on U.S. pork five months ago following the outbreak of the H1N1 flu virus, also known as swine flu. The disease cannot be caught by eating pork. China"s Agriculture Minister Sun Zhengcai did not say when he would announce a formal end to the pork ban. "He didn"t put a specific timeline on it, but as you know President Obama is coming to China in a couple of weeks, and I don"t know whether that is part of their calculation or not," Vilsack said.
