A handful of farm states, mostly in the Midwest and Plains, emerge as net winners when the impact of retaliatory Chinese tariffs are weighed against the Trump administration's trade-war payments to farmers, say three university economists.
The "phase one" trade agreement with Beijing will bring larger U.S. plantings of soybeans and cotton this spring than now projected by USDA, as growers aim for revived exports to China, analysts said over the weekend. China is the world's largest importer of the commodities but U.S. ag exports to China were halved by the tit-for-tat tariffs of the Sino-U.S. trade war.
The chairman of the Farm Credit Administration appealed for Farm Belt patience on Trump trade agreements on Wednesday. "The groundwork has been laid for trade normalization and improved farm prices," said Glen Smith during a House Appropriations subcommittee hearing.
Farmer sentiment jumped to the highest level of the Trump presidency, with a nationwide survey finding farmers upbeat about the prospects for exports following the Phase I trade deal with China, according to the Purdue/CME Group Ag Economy Barometer released Tuesday. The Ag Economy Barometer …
At the same time he saluted the de-escalation of the Sino-U.S. trade war, Agriculture Secretary Sonny Perdue announced on Monday the release of $3.6 billion in trade-war payments to farmers and ranchers. The money will raise the total for Trump tariff payments to producers to mitigate the impact of retaliatory tariffs on 2019 production to $14.5 billion.
British Prime Minister Boris Johnson wasted no time, after officially exiting the European Union last Friday, in courting a bilateral trade deal with America, decrying “hysterical” fears about U.S. food standards such as genetically-modified crops, The Guardian reported. “I look at the …
In his State of the Union speech on Tuesday, President Trump will provide details on further steps in U.S.-China trade relations, says a senior administration official. The nations signed a "phase one" agreement to de-escalate the trade war on Jan. 15 and Trump indicated "phase two" negotiations would begin soon, although no date has been announced.
President Trump employs a policy of “aggressive unilateralism” that views agriculture’s trade war losses as collateral damage that can be mitigated by a multibillion-dollar bailout, say the authors of a paper on the 2020 presidential race. The paper says Michael Bloomberg is “perhaps the strongest supporter of free trade among the various Democratic candidates” while Sens. Bernie Sanders and Elizabeth Warren “are the most protectionist.”
President Trump led a 37-minute celebration of the new NAFTA on Wednesday, signing the United States-Mexico-Canada Agreement on the White House lawn during a ceremony packed with laudatory descriptions of the “very, very special” tri-national free trade agreement.