China and the U.S. signed a memorandum of understanding (MoU) that will increase American dairy exports to China, in a deal that marks new progress in the two sides’ ongoing negotiations towards a larger mid-July trade agreement. The memorandum will benefit more than 200 U.S. dairy exporters in the short term and pave the way for additional U.S. entrants in the future, according to the U.S. Dairy Export Council (USDEC), an industry group representing more than 120 American dairy companies. “This deal marks a significant opportunity for the U.S. dairy industry,” said Tom Vilsack, President and CEO of USDEC. “China is already the world’s largest dairy importer, even though per capita consumption remains far below that of the United States, Europe and even its Asian neighbors like Japan and South Korea. The potential to increase exports there is tremendous.” By July 16, the two nations are expected to finalize a trade agreement during high-level talks in Washington.