China
Keep China out of U.S. agriculture, say House lawmakers
A week after a House committee voted to prohibit China from purchasing U.S. agricultural land, the No. 3 House Republican leader cited national security concerns in spearheading legislation to block China from acquiring U.S. agricultural companies. The restrictions were proposed at the same time business groups sought removal of U.S. tariffs on Chinese goods, remnants of the Sino-U.S. trade war.
House committee votes to ban sale of U.S. farmland to Russia and China
Companies from Russia, China, North Korea, and Iran would be barred from purchasing U.S. agricultural land under language approved by the House Appropriations Committee on Thursday.
‘Phase one’ was doomed to disappoint, and it did, say analysts
The 2020 agreement that de-escalated the Sino-U.S. trade war set unrealistically high goals for U.S. exports to China and failed to deliver on them by large margins, say analysts. Overall, China bought just 57 percent of the goods and services it committed to buying as part of the “phase one” agreement. The agriculture sector, at 83 percent, came closest to reaching its export goal.
Apple industry asks Biden to remove tariffs on Chinese goods
Exports of U.S. apples "have taken a big hit in recent years," with the Sino-U.S. trade war as a leading reason, said the U.S. Apple Association on Thursday. The trade group called on the Biden administration to remove U.S. tariffs on Chinese products so that China would eliminate its retaliatory tariffs on U.S. goods that include apples.
Agriculture has ‘unfinished business’ in Sino-U.S. trade, says Vilsack
Although China purchased a record amount of U.S. farm exports over the past two years, it wasn't enough to comply with the "phase one" agreement that de-escalated the Sino-U.S. trade war, said Agriculture Secretary Tom Vilsack on Thursday. "We obviously have some unfinished business with reference to phase one," Vilsack told lawmakers a day after President Biden pointed to Chinese shortfalls.
Trade war price tag: $27 billion in lost ag export sales
China accounted for 95 percent of the $27 billion in U.S. farm export sales that were lost in 2018 and 2019 as a result of the trade war begun by President Trump, said a USDA report. Sales to China rebounded after the "phase one" trade agreement, but U.S. market share has remained lower than before the tit-for-tat tariffs.
California ag exports down by $2.1 billion due to ‘Containergeddon’
The cargo pileup at West Coast ports may have had a greater impact on farm exports from California than the Sino-U.S. trade war did, said three economists on Wednesday. They estimated losses of $2.1 billion in foreign sales during a five-month period because of port congestion, comparing that to economic losses of about $500 million for California agriculture during the first year of the trade war.
China is a big ag exporter as well as importer
In the past two decades, China has shifted from a net exporter of agricultural products, with a trade surplus of $2.3 billion, to the world's largest importer, with a trade deficit of $100 billion, according to a review of Chinese membership in the World Trade Organization. The flood of imports obscures China's position as the fourth largest ag exporter in the world, trailing the European Union, the United States and Brazil.
U.S. farm exports to set a record, but not as big as expected
China is buying less U.S. crops and livestock than expected, particularly soybeans, and America's ag exports are feeling the pinch. Sales are forecast at a highest-ever $175.5 billion this fiscal year, said the USDA on Tuesday, but just like the record set last year, the crest was not as high as it looked in the summer.
U.S. farm exports are in record-setting territory
It's an open question if U.S. ag exports were as large as forecast in fiscal 2021, but a running tally by the USDA says they were the largest ever. Shipments to foreign buyers totaled $160.2 billion with one month to go in the fiscal year, topping the record of $156.8 billion set in fiscal 2014.
Ag purchases are a test of Chinese credibility, says Vilsack
Speaking to a farm conference, Agriculture Secretary Tom Vilsack said China's adherence to its commitment to buy mammoth quantities of U.S. farm exports will be a test of the Asian nation's place in global relations. While China has buoyed commodity prices with its purchases, it is not on track to meet the goal of importing $43.6 billion worth of U.S. food, agricultural, and seafood products by the end of December.
China to be world’s leading corn importer even with record crop
A favorable growing season and government policies that encourage crop rotations will result in a record corn crop in China, estimated the USDA. China is second to the United States as a corn producer and will be the world's largest corn importer for the second year in a row, according to the monthly World Agricultural Production report.
Highest farm income in eight years, but one-third comes from government
Higher prices for corn, soybeans, hogs, cattle, and broiler chickens — top U.S. ag products — will boost net farm income to $113 billion this year, the highest since 2013, estimated the Agriculture Department on Thursday. Income would be 26 percent higher than the 10-year average, reflecting the economy-wide recovery from the pandemic.
High prices, strong demand mean back-to-back records for U.S. ag exports
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.
China headed for record purchases of U.S. ag exports
Exporters sold $15.2 billion worth of American farm products to China in the first six months of 2021, raising the possibility of record sales this year, wrote economist David Widmar on Monday on the Agricultural Economic Insights blog. Sales are on pace to hit $33.7 billion, with some of the most active months for sales — during and after the fall harvest — still to come.
McConnell may sidetrack USDA, other federal funding bills in Senate dispute
The Senate Appropriations Committee approved a mammoth USDA-FDA funding bill on Wednesday that includes $7 billion in disaster funds for crop and livestock losses in 2020 and this year. Almost immediately after the 25-5 vote, Senate Republican Leader Mitch McConnell threatened to sidetrack the USDA and other appropriations bills in a budget dispute with Democrats, who control the Senate.
Vilsack trade view: ‘Over-reliance on China,’ no deal with EU soon
Ag exports, a key part of U.S. farm revenue, are expected to generate 36 cents of every $1 in cash income this year, thanks to high commodity prices as the world recovers its appetite and the pandemic recedes. Agriculture Secretary Tom Vilsack said the country ought to diversify its sales to a broader range of markets.
House panel: Put the brakes on China-owned farmland in U.S.
China would be barred from buying more U.S. farmland and the land already in its possession would become ineligible for farm subsidies under language approved by the House Appropriations Committee on Wednesday. On a voice vote, the provision was added to a $197 billion USDA-FDA funding bill headed for a vote on the House floor.
Mexico to displace China as top corn importer
China will remain the leading importer of soybeans and cotton, but Mexico will be the world's largest corn importer for the rest of this decade, said the Food and Agricultural Policy Research Institute. The United States would be the top corn exporter despite increased competition from Brazil, said the University of Missouri think tank in updating its international marketing baseline.