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.

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.

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.

U.S. farm exports forecast at 8 percent above 2014’s record

Thanks to high demand for American-grown corn, soybeans, and meat, U.S. farm exports will soar to a record $164 billion this year, far above the current mark of $152.3 billion, set in 2014, said the Agriculture Department on Wednesday. China, reclaiming its spot as the No. 1 customer, would account for $1 of every $5 in overseas sales.

Corn may be king, but soybeans rule U.S. exports

By a wide margin, soybeans are the most valuable U.S. farm export, accounting for 18 cents of every $1 in sales during calendar 2020, said the USDA's Foreign Agricultural Service on Wednesday.

China gets to two-thirds of ‘phase one’

China failed to meet its "phase one" target for imports of U.S. food, agriculture, and seafood products despite a surge in purchases that began late last summer, said the Peterson Institute for International Economics on Thursday.

China on track for $31 billion in U.S. ag imports over 12 months

While China may not meet the first-year target under the "phase one" trade agreement, it is buying huge amounts of U.S. food, agriculture, and seafood products that could total $31 billion over 12 months, said Iowa State economist Wendong Zhang at a farm conference on Thursday. Neither Zhang nor Ohio State professor Ian Sheldon said they expected the Biden administration to roll back U.S. tariffs on China in the near term.

Brazil heads, again, for its largest soy crop ever

Despite dry weather at the start of the planting season, Brazil is headed for its second record-setting soybean harvest in a row, said USDA analysts, who forecast the 2020/21 crop at 133 million metric tonnes, up nearly 6 percent from last year.

‘Phase one’ fails to deliver, and a new approach to China is needed, says trade expert

The "phase one" agreement that de-escalated the Sino-U.S. trade war is not paying off in massive sales of U.S. products, including food and agricultural exports, to China or in the long-term reform of Chinese trade practices, said Chad Brown of the Peterson Institute for International Economics. "(President) Trump's trade war has failed to address what really ails the U.S.-China trade relationship," wrote Brown in a blog. "It is time for a new approach."