China
Farmers expect trade deal soon, but Trump says maybe not
Two states top $1 billion in Trump tariff payments this year
Producers in Iowa and Illinois reaped 20 percent of the trade war payments from the Trump administration, as cash disbursements leaped to nearly $10.2 billion nationwide for this year's crops and livestock. Iowa collected $1.15 billion and Illinois $1.06 billion, according to the USDA.
Stronger-than-expected sales to China buoy US ag exports
Trump slaps tariffs on Brazil, Argentina metals – and French champagne
Brazil and Argentina are taking actions that are "not good for our farmers," said President Trump on Monday, announcing high tariffs on steel and aluminum imports from the South American nations. Trump, who announced the tariffs on social media, said the weakening Brazilian real and Argentina peso adversely affects U.S. manufacturing and agricultural exports, making American-made goods more expensive.
Farm income is highest in six years, thanks to Trump’s trade-war bailout
Fueled by $14.5 billion in Trump tariff payments, U.S. net farm income will climb to its highest total since the commodity boom crested in 2013 and a dramatic rebound from the plunge that accompanied its collapse, the USDA estimated. When crop insurance indemnities are added to "direct farm program payments," a category that includes trade war aid, land stewardship payments and traditional crop supports, the government will provide an unusually high 31 percent of farm income this year.
USDA releases additional $3.6 billion in Trump tariff payments
With the Sino-U.S. trade war unresolved, the Trump administration released $3.625 billion in trade-war payments to farmers and ranchers on Friday to offset losses on 2019 production. Payments will begin this week and Agriculture Secretary Sonny Perdue said they "will give farmers, who have had a tough year due to unfair trade retaliation and natural disasters, much needed funds in time for Thanksgiving.”
China removes ban on imports of U.S. poultry
Poultry farmers could register $1 billion a year in sales to China now that Beijing has removed its “unwarranted ban on U.S. poultry and poultry products,” said U.S. trade representative Robert Lighthizer on Thursday. Industry groups see the potential to double that total.
When U.S. started trade war, ag competition was already rising
For years, the United States was the indisputable global leader for agricultural exports, partly because it had a comparative advantage in farm production. But the U.S. advantage in pork, beef, corn and soybeans is waning, say two university economists, who conclude "this may have been the worst time to enter into a trade war."
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.
Hog epidemic in Asia means less meat worldwide, says UN food group
World meat production will decline for the first time in two decades because of the devastating epidemic of African swine fever in China, the world’s largest pork producer, said the UN Food and Agriculture Organization on Thursday.
Farmers support trade war despite their financial losses
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.
Trade war a factor in slower world growth, says IMF
One-year wonder: U.S. soy stockpile to shrink as quickly as it grew
Aided by the Sino-U.S. trade war, the U.S. soybean inventory doubled to a record 913 million bushels in one year, the government said on Thursday. At the same time, the USDA estimated that total will be cut in half by next September.
Ahead of trade talks, Trump asks China to investigate Biden family
With Sino-U.S. trade talks scheduled to resume next week, President Trump said on Thursday that “China should start an investigation into the Bidens.” He also said his administration was “looking at a lot of different things” to increase pressure on China to resolve the trade war.
More trade aid to farmers? ‘We’ll see what happens,’ says Trump.
Ahead of high-level Sino-U.S. trade talks, President Trump said on Monday that “I would much prefer a big deal” that would end the trade war, while at the same time touting the billions of dollars that farmers are receiving to mitigate the impact of lost exports.
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.