Propelled by the global economic recovery from the pandemic, U.S. farm exports will set back-to-back sales records this fiscal year and in the new year beginning on Oct. 1, the government forecast on Thursday. China would account for $1 of every $5 in exports during the two-year span, with annual purchases running more than $10 billion above its previous record, set in 2014.
Agriculture Secretary Tom Vilsack named Daniel Whitley to be administrator of the Foreign Agricultural Service on Wednesday. He has been the acting chief of the agency, which tracks food and agriculture issues worldwide and promotes U.S. goods.
President Biden announced a breakthrough in the long-running U.S.-EU dispute over airliner subsidies on Tuesday: Suspension of retaliatory tariffs on each other's products for five years beginning in July. The overall $4 billion in EU tariffs included duties on $1.4 billion of U.S. ag exports from frozen seafood to cotton, wheat, tobacco and alcohol.
The Biden administration elevated a long-simmering dispute over Canadian dairy quotas on Tuesday by calling for a three-judge panel to decide the matter under USMCA rules. It was the first time that a dispute settlement panel was invoked under the trade agreement that took effect last July 1.
Global trade in food and agricultural products grew by 3.5 percent last year, according to the WTO, leading to descriptions that the sector was robust and resilient in the face of the worst pandemic in a century. However, a USDA working paper says the impact of the coronavirus was obscured by such factors as the de-escalation of the Sino-U.S. trade war.
Trade ministers from Canada, Mexico and the United States are scheduled to confer digitally on Monday and Tuesday in the first meeting of the USMCA's Fair Trade Commission, with dairy expected to be the hot topic. U.S. dairy groups called on Sunday for the Biden administration to escalate an ongoing complaint against Canadian dairy quotas unless this week's meeting produces results.
U.S. fertilizer companies are "materially injured" by imports of subsidized phosphate fertilizer from Russia and Morocco, said the U.S. International Trade Commission on Thursday, so it approved, on a 4-1 vote, the imposition of countervailing duties on the imports.
U.S. farm exports are forecast by the USDA to hit a record $157 billion this year, aided by a weaker dollar against many foreign currencies. Agricultural lender CoBank says the impact will be somewhat uneven, with meat and dairy products benefiting the most.
The world's most populous country is already its largest meat-importing nation and "looks like it's poised to play a major role in meat markets in the future," said USDA senior economist Fred Gale on Thursday. China's imports of beef, pork, and poultry are projected by the USDA to grow 29 percent in the coming decade.
The Biden administration's plan to enlist American agriculture in mitigating climate change through cover crops and carbon trading could pay dividends in another field entirely — negotiations for freer agriculture trade, said an American Enterprise Institute paper on Tuesday. The United States would be in a stronger bargaining position if it shifted some of its farm subsidies into .s.o-called green box programs that are deemed not to distort international trade, said the paper written by three farm policy experts.