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.

New approach needed following ‘phase one’ failure, says analyst

The Trump administration’s “phase one” trade agreement with China alienated U.S. allies while failing to deliver on its promises of mammoth purchases by Beijing, wrote trade policy expert Chad Bown on Monday in calling for a new approach. “Only a group of countries working together and sharing …

China sets monthly record for purchases of U.S. food and ag

Although it is likely to fall short of its “phase one” target, China purchased a record $4.8 billion of U.S. food, agricultural and seafood products during October, contributing to the surge in grain and soybean prices, analysts said on Monday. “The big question right now for …

EU targets U.S. agriculture and aircraft in airplane dispute

The European Union announced higher tariffs on $4 billion worth of U.S. products, including agricultural exports, industrial goods, and aircraft on Monday in an escalating dispute over government support of the airplane industry on both sides of the Atlantic Ocean. The Trump administration …

Perdue hopeful China will meet ‘phase one’ trade targets

China has "really stepped up" its purchases of U.S. farm exports in recent weeks, said Agriculture Secretary Sonny Perdue on Monday, and he is hopeful of the sales bonanza promised in the "phase one" agreement that de-escalated the Sino-US trade war. "They are saying... the right things about their desire to fulfill their commitment. I'm hopeful they will."

Beef slumps while pork exports surge

For the first six months of the year, exports of American beef tumbled by 15 percent, probably due to Covid-19 turmoil, while pork exports soared by 28 percent compared to 2019 levels, said the USDA on Tuesday. Large shipments to China were the primary factor in the surge in pork shipments, …

China buys more; will it be enough for ‘phase one’?

The “phase one” trade agreement with China, one of President Trump’s top trade achievements, calls for Beijing to buy huge quantities of U.S. food, agricultural and seafood exports. Sales of soybeans, cotton, pork, corn, sorghum and wheat are stronger than a year ago but an Iowa think tank …

Limited initial impact on U.S. ag exports from China deal

The “phase one” China-U.S. trade agreement, which takes effect at the end of this week, calls for China to buy $40 billion a year of U.S. food, agricultural, and seafood products this year and in 2021. Yet there will be limited immediate impact on U.S. sales overall, USDA analysts indicated on …

Coronavirus will delay sales boom to China, says Kudlow

The “phase one” trade agreement that calls for China to triple its purchases of U.S. farm exports “will take longer” because of the Wuhan coronavirus, said White House economic advisor Larry Kudlow on Tuesday. The coronavirus epidemic has disrupted trade and travel. …

Grassley says he will blow the whistle if Chinese backslide on trade deal

As soon as President Trump and Chinese vice premier Liu He sign a “phase one” agreement to de-escalate the China-U.S. trade war today, Senate Finance chairman Chuck Grassley will be on watch for Chinese compliance with provisions such as large purchases of U.S. farm goods. “If they aren’t, they …