agricultural trade
Four times more tariff pain than financial gain in ‘new NAFTA’
Although President Trump declared the United States-Mexico-Canada Agreement a big win for U.S. farmers, a study released on Wednesday says U.S. farm exports will fall by $1.8 billion due to retaliatory tariffs by Mexico and Canada. That would be four times larger than the gains the trade pact would produce.
Trump heads for farm country as midterms near
Ten days ahead of the midterm elections, President Trump will tout his agricultural record to a pared-down crowd of 7,000 teenagers at the FFA national convention in Indianapolis and campaign in southern Illinois for an imperiled Republican member of the House Agriculture Committee.
Farm bill, just another in a roster of disappointments?
Senate and House negotiators tacitly acknowledged on Wednesday that the 2018 farm bill will be late, due to intractable disagreements. The delay could add the bill to a growing list of agricultural disappointments.
Japan sets limit on ag access in trade talks with U.S.
The United States and Japan will open negotiations on a free trade agreement “that can produce early results” on manufactured goods, announced President Trump and Prime Minister Shinzo Abe on Wednesday. Japan, however, said that in the upcoming negotiations it would not lower tariffs on food, agriculture, and fishery imports.
Farm state senators say TPP could be part of a trade war cure for ag
Three Republican senators said on Thursday that re-entering the Trans-Pacific Partnership could speed up the process of finding alternative markets for farm exports now that China has closed its door to them.
USDA explains how it divided $4.7 billion for growers
When it decides whether to make a second round of Trump tariff payments, the USDA said on Thursday, it will consider changes in tariffs, commodity prices, and other market conditions since it announced that $4.7 billion would be split among the producers of seven commodities this fall.
Perdue addresses farmer fly-in, talks trade and SNAP work requirements
In a 15-minute address to hundreds of members of the National Farmers Union, Agriculture Secretary Sonny Perdue emphasized the need for a strong farm safety net and diverse trade partners for U.S. agricultural producers.
USDA: Farm anxiety understandable, aid package will ease it
The administration’s aid package for farmers will shield U.S. agriculture while President Trump negotiates new and fairer trade deals, said a USDA spokesman on Wednesday.
Trump tariff bailout may be sunlight ahead of storm clouds over farm sector
Crop and livestock producers are likely to learn on Monday how the Trump administration will allocate up to $12 billion in aid to offset the impact of retaliatory Chinese tariffs on the U.S. farm sector, said Agriculture Secretary Sonny Perdue.
Farmer support for Trump continues to decline, new poll says
More than a third of farmers view President Trump less favorably than they did before the current trade war, according to a new poll by Farm Journal. The survey of 2,300 farmers also found that only a slim majority of those who supported Trump in the presidential election would vote for him again.
Farm economy weakens in Plains and Midwest, fall outlook grim
The slump in commodity prices that has accompanied the ongoing tit-for-tat trade war has sapped the farm economy this summer and poses financial risks going into the fall, said Federal Reserve banks in Chicago and Kansas City on Thursday.
Perdue on the EU: ‘They need to step up and buy’
The United States expects Europe to follow through on a promise to buy more U.S. soybeans, said Agriculture Secretary Sonny Perdue on Monday. At the same time, he said that America will not respect EU claims to the exclusive use of such food names as Parma ham or Roquefort cheese.
Trump to visit farm country as trade war looms
With a visit to corn-and-pork-producing Iowa on Thursday, President Trump will have a chance to speak directly to farmers, a loyal block of supporters who have grown increasingly worried about the impact of Trump tariffs on their wallets. Farm groups have suggested repeatedly the administration find alternatives to tariffs for settling trade disputes but they have been willing to give the president time to show results.
As commodity prices fall, Trump says ag exports will be ‘better than ever before’
Senators signaled their strong dissatisfaction with President Trump’s policy of trade warfare on Wednesday, while Trump said, falsely, that “farmers have done poorly for 15 years,” and pledged to remove trade barriers so that U.S. exports flow “better than ever before.”
Trade war hits U.S. beef, dairy, and pork producers
In a video posted Monday on social media, the U.S. cattle industry predicted it would be shut out of the Chinese market and lose an estimated $70 million in beef sales this year due to retaliatory tariffs. Groups representing pork and dairy producers expressed similar concerns.
Farm sector frets as tariffs hit export customers
Farm country is worrying and waiting for the next shoe to drop in Trump administration trade disputes with leading ag export markets, including China, Canada, Mexico, and the European Union. A Purdue University poll of producers found a “tremendous amount of uncertainty about future conditions.”
In rarity, soy tops corn in U.S. plantings
U.S. farmers planted nearly 2 million more acres of corn and soybeans than they planned in late winter, but soybeans, for the first time in 35 years, will be the most widely grown crop in the country, said the USDA's annual Acreage report. The soybean harvest could be the second-largest ever and corn the third-largest, assuming normal weather and yields.
Perdue roots for $10-a-bushel soybeans
If the United States and China settle their ongoing trade dispute, commodity prices could recover from their recent decline, said Agriculture Secretary Sonny Perdue on Wednesday. At the same time, he promised a USDA backstop in case of trouble.
Reduced interest overseas in U.S. soybeans
The new soybean marketing year opens on Saturday, and early orders for the U.S. crop are the smallest in years, says a research brief from rural lender CoBank. Global demand is down in the face of the strong dollar, slow economic growth, and uncertainties about U.S. trade policy in an election year.