agricultural trade
Perdue says second tranche of Trump tariff payments is on its way
Farmers can expect a cash injection of billions of dollars in Trump tariff payments later this month or in December, said Agriculture Secretary Sonny Perdue on Thursday. “We hope that trade will supplant the need for aid in 2020,” he said, pointing to progress in negotiations to resolve the Sino-U.S. trade war.
House Democrats stress USMCA enforcement in meeting with Trudeau
The House Democratic task force on the so-called new NAFTA “has made substantial progress” with U.S. trade representative Robert Lighthizer on modifications to the tri-national agreement, said a statement from the Ways and Means Committee on Wednesday.
APEC gone, ‘phase one’ still on track
The “phase one” agreement that calls for China to purchase vast amounts of U.S. farm exports should be ready for signature by mid-November, regardless of the cancellation of the summit meeting where President Trump and President Xi Jinping were expected to sign it, said the White House on Wednesday.
Ag purchases are welcome, but significant Sino-U.S. issues remain, says Pence
President Trump aims to sign a “phase one” trade agreement with China that will result in vast sales of U.S. farm exports on the way to resolving “a whole range of structural and significant issues” between the nations, said Vice President Mike Pence on Thursday. China would spend $40 billion to $50 billion on ag products, according to the White House.
Japan ag output to decline under trade pact with U.S.
Japanese beef producers will be hit the hardest by their nation's agreement to reduce tariffs on U.S. food and agriculture products, according to an estimate by the government in Tokyo. The package calls for Japan to reduce or eliminate tariffs on $7.4 billion worth of U.S. ag exports beginning on Jan. 1.
Pence tells Iowa, ‘I came … to turn up the heat’ on USMCA
Time is running short for President Trump to win congressional approval of the United States-Mexico-Canada Agreement this year, with lawmakers set to work just eight weeks before adjourning in early December. Vice President Mike Pence called on House Democrats on Wednesday to set aside their “partisan impeachment” inquiry and approve the USMCA.
A victory lap on Japan, prodding on USCMA
U.S. farm groups celebrated anew on Monday Japan’s agreement to reduce or eliminate tariffs on $7.2 billion worth of American goods, including beef, pork, poultry, wheat, cheese, wine, and ethanol. President Trump used the ceremonial signing of the pact at the White House to urge congressional approval of the United States-Mexico-Canada Agreement.
Impeachment inquiry casts shadow on ‘new NAFTA’
President Trump is creating instability in the farm sector with his periodic threats to withdraw from NAFTA, said the senior Democrat on the Senate Agriculture Committee. Also at an Agriculture hearing on Wednesday, farm groups called for speedy passage of the United States-Mexico-Canada Agreement, which has been put in doubt by the opening of an impeachment inquiry in the House.
Japan agrees to lower tariffs on U.S. farm exports
U.S. farmers will gain broader access to Japanese consumers under an agreement signed by Prime Minister Shinzo Abe and President Trump on Wednesday in New York. The White House called the deal “a major win for our farmers, ranchers, and growers.”
Cars slow progress on U.S.-Japan trade ‘mini-deal’
An accord expected to boost U.S. farm exports to Japan may not be complete in time for signature by President Trump and Prime Minister Shinzo Abe on the sidelines of the UN General Assembly this week. The so-called mini-deal would cover agriculture and digital trade but is being held up by Tokyo's request that the United States promise not to impose tariffs on cars imported from Japan.
On cusp of trade pact with Japan, Trump sees no hurry on China
When President Trump meets Prime Minister Shinzo Abe of Japan on Wednesday, it should be a red-letter day for Trump's policy of bilateral, rather than multi-nation, trade negotiations. The two leaders are expected to approve a deal on agricultural and digital trade. U.S. food and ag exports could rise as a result.
Trump says he will sign trade deal with Japan
Eleven months after initiating negotiations, President Trump notified Congress on Monday that he intends to sign a trade agreement with Japan in the coming weeks. The agreement is expected to put U.S. farmers on equal footing in trade with Japan in competition with the "TPP-11" trade bloc and the EU.
The road to China runs through the USMCA, say backers
At a farm group rally on Thursday for approval of the United States-Mexico-Canada Agreement, two senior members of the U.S. House said that action on the USMCA would carry benefits in resolving the Sino-U.S. trade war.
In goodwill gesture, Trump delays higher Chinese tariffs for two weeks
Hours after complimenting China for waiving tariffs on some U.S. products, President Trump announced on Wednesday a two-week delay, until Oct. 15, of higher tariffs on $250 billion worth of Chinese-made goods. On social media, Trump called the delay “a gesture of good will.”
Chinese officials hint at waiting out Trump on a trade deal, says report
Chinese officials are growing increasingly wary of President Trump, suggesting that the risks of making a trade deal with him are greater than the costs of delaying one until after the 2020 election because of fears Trump might renege on an agreement, according to a Bloomberg report.
U.S. apple exports plunge due to trade disputes
The U.S. Apple Association, a trade group, called for free access to overseas markets on Thursday, as it reported that export sales for 2018 had plummeted to $854 million, down from $1.1 billion in 2017.
Ag sector ‘uncertainty’ pulls down sales for world’s largest farm equipment maker
Farmers are sitting on their checkbooks instead of buying new equipment because of the Sino-U.S. trade war and planting delays in the United States, said the chief executive of Deere and Co., the world's largest farm equipment manufacturer. Deere, which also makes construction and logging equipment, said overall sales fell 3 percent during May, June and July, led by a 6- percent drop in agriculture and turf, its largest division.
Trade war limits outlet for smaller-than-usual U.S. corn and soy crops
U.S. farmers will harvest their smallest corn and soybean crops since 2013, but the trade war will constrain exports of America’s two major crops for the second year in a row, forecast the USDA on Monday. Soybeans would sell at the lowest average price at the farm gate in 13 years.
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.