agricultural trade
‘USDA’s bank’ keeps trade aid flowing to farmers
The Trump administration can pay billions of dollars in trade aid to farmers and ranchers this year, and in 2020, too, if it wishes, because Congress quietly and reliably replenishes funding for the Commodity Credit Corp., sometimes referred to as the “USDA’s bank.” (No paywall) <strong>(No paywall)</strong>
‘A body blow’ to U.S. farmers as trade war deepens
In a steady escalation of the Sino-U.S. trade war, Chinese companies halted purchases of U.S. farm exports on Monday. The largest US farm group said China's actions were "a body blow to thousands of farmers and ranchers who are struggling to get by."
China says, again, that it will buy more U.S. farm goods
During the second day of trade talks in Shanghai, Chinese officials “confirmed their commitment to increase purchases of U.S. agricultural exports,” said the White House on Wednesday. “The U.S. side agreed to create favorable conditions for it,” said a Chinese editor believed to have contacts in the government.
Sino-U.S. trade war could last until late 2020, says Trump
President Trump was ambivalent about this week's trade talks with China, saying "I don't know if they're going to make a deal," even as China hinted at goodwill purchases of U.S. farm exports. Meanwhile, the White House said China, the second-largest economy in the world, ought to shed its status at the WTO as a developing nation and to play by the same rules as the United States and other industrial nations.
Farmers to get $7 billion in trade aid this summer, with more on tap
The Trump administration will send more than $7 billion in trade war payments to farmers this summer, a total that could soar to more than $14 billion if the Sino-U.S. dispute persists into the winter, said officials on Thursday. For the second year, agriculture is the only sector of the U.S. economy to receive trade mitigation payments.
Different types of corn drive U.S.-Mexico trade
The United States and Mexico are among the world’s largest corn producers, and both are expanding production. A USDA report says that despite their geographic proximity, there are fundamental differences in the “corn economies” of the two countries.
Buy our farm exports, Trump tells China
On Thursday, for the second time this week, the White House called on China to buy U.S. farm exports. After meeting with President Xi Jinping nearly two weeks ago, President Trump said China would begin “almost immediately” to buy large amounts of U.S. food and ag exports. So far, those purchases have not materialized.
Brazil’s JBS wins a quarter of Trump-tariff contracts for pork
A Brazilian-owned meat processing company undercut its competition by more than $1 per pound to win nearly $78 million in pork contracts through a federal program launched to help American farmers offset the impact of the ongoing trade war. As a result, JBS USA has won more than 26 percent of the $300 million the USDA has allocated so far for pork purchases — more than any other company, according to the Midwest Center for Investigative Reporting.<strong>(No paywall)</strong>
Trump: USMCA vote will be ‘very bipartisan’
On Thursday, with Canadian Prime Minister Justin Trudeau seated at his side, President Trump predicted a “very bipartisan” vote in Congress for adoption of the so-called new NAFTA, though when the House will vote on the trade pact is unclear.
Mexico ratifies USMCA; Trudeau and Trump to discuss pact today
Mexico’s Senate ratified the “new NAFTA” on a 114-4 vote on Wednesday, making Mexico the first country to approve the free trade agreement. Prime Minister Justin Trudeau of Canada is to meet President Trump at the White House Thursday to discuss the path forward on the pact.
Time for a deal with China, say farm-state senators
Half a dozen farm-state senators urged Trump trade officials on Thursday to speedily resolve the Sino-U.S. trade war that is compounding hard times on the farm. Senate Agriculture chairman Pat Roberts brushed aside assurances of a rosy future when trade deals are completed. “Some farmers aren’t going to make it,” he said.
Mexico to buy ‘large quantities’ of U.S. ag exports, says Trump
Without providing details, President Trump said on social media over the weekend that Mexico, the largest U.S. food and ag trade partner, would "immediately begin buying large quantities of agricultural product from our great patriot farmers." Purchases were not mentioned in a joint declaration by the North American neighbors to avert temporarily Trump's threat to impose tariffs on all imports from Mexico unless it acted to restrict crossings at the southern U.S. border.
White House starts the march to a vote on the new NAFTA
U.S. trade representative Robert Lighthizer sent a letter to congressional leaders on Thursday to trigger the process of approving the new NAFTA. The draft of a so-called statement of administrative action allows the Trump administration to submit the trade deal to Congress within 30 days.
Pence goes to Canada, looking for a sprint to the new NAFTA
Vice President Mike Pence and Canadian Prime Minister Justin Trudeau are scheduled to confer today in Ottawa on what could be a summertime sprint in both countries to ratify the USMCA trade agreement.
Trump tariff payments could triple farm subsidies this year
When Congress passed the 2018 farm policy law, analysts estimated farm subsidies would cost an average $6.1 billion a year. The Trump tariff payments, ordered by the White House to mitigate the impact of trade war, could triple the total for expenditures to farmers this year.
Trump announces $16-billion farm bailout, Perdue says more possible
President Trump announced a $16-billion aid package on Thursday to buffer the impact of the trade war on farmers and ranchers this year. Speaking separately to reporters, Agriculture Secretary Sonny Perdue said billions of dollars of additional aid may flow in the future.
Farmers in Plains lean heavily on Trump tariff payments
Due to the trade war, more than a third of net farm income for Kansas farmers comes from Trump tariff payments, but that won't make up for lost export sales, said Republican Sen. Jerry Moran on Monday. The second-term Republican was part of a Farm Belt chorus that, after applauding the end of a trade dispute with Canada and Mexico, called for trade deals with China, Japan and the European Union.
China a factor as U.S., Mexico, Canada agree to remove tariffs
The three largest countries in North America announced an end to the 11-month battle of tariff and retaliatory tariff that pinched U.S. farm exports to Canada and Mexico, the two largest customers in the world in the for the goods. The agreement, which took effect over the weekend, improved the prospects for ratification of the new NAFTA and altered the dynamics of the Sino-U.S. trade war.