tariffs
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.
EU targets U.S. agriculture and aircraft in airplane dispute
U.S. hits Thailand for blocking American pork
The United States suspended $817 million in trade preferences granted to Thailand "based on its lack of sufficient progress [in] providing the United States with equitable and reasonable market access for pork products," said the Office of the U.S. trade representative on Sunday. Trade representative Robert Lighthizer said when countries fail to meet the criteria to participate in the General System of Preferences, "we will take action by limiting their preferential duty-free access to the U.S. market."
Pence: ‘We have a ways to go’ in settling trade war with China
In a speech at the Iowa State Fairgrounds, Vice President Mike Pence pointed on Thursday to China's promises to roughly double its purchases of U.S. farm exports as evidence that there is "no greater fighter on trade than President Donald Trump." The pledge was part of the "phase one" agreement that de-escalated the Sino-U.S. trade war and is scheduled for a six-month review by the two nations this weekend.
Biden says he would remove tariffs on China
President Trump is "going after China the wrong way" in a go-it-alone trade war that has damaged U.S. agriculture and manufacturing, said Joe Biden, the presumptive Democratic nominee for president, in an interview to be aired on Thursday.
Farm income, stressed this year, may drop sharply in 2021
U.S. farm income, under pressure this year from the trade war and coronavirus pandemic, could fall off a cliff next year when record-setting federal payments are due to end, according to early assessments. A plunge in income could be avoided by cost-cutting on the farm, a recovery in commodity demand, or a new multibillion-dollar round of federal aid, but they are not assured, say analysts.
China pauses on buying U.S. ag exports pause, then sputters ahead
On the same day that Beijing reportedly told state-run trading houses to pause purchases of U.S. farm exports, the companies bought a small amount of U.S. soybeans on Monday, according to unnamed sources. The pause was described as saber rattling and also a sign that the "phase one" trade agreement was in jeopardy as Sino-U.S. relations sour.
Soybean stocks to surge if Sino-U.S. trade war flares
Soy mania among U.S. farmers a risk, even if China makes large purchases
Trump speech to include next steps on China
In his State of the Union speech on Tuesday, President Trump will provide details on further steps in U.S.-China trade relations, says a senior administration official. The nations signed a "phase one" agreement to de-escalate the trade war on Jan. 15 and Trump indicated "phase two" negotiations would begin soon, although no date has been announced.
Ag purchases from U.S. will hinge on Chinese demand, says vice premier
The “phase one” trade agreement with China assures sales of “up to $50 billion in agriculture alone,” said President Trump at a White House signing ceremony on Wednesday, although Chinese Vice Premier Liu He said sales would depend on domestic demand and U.S. prices. A senior administration official said later that the pact did not require China to remove retaliatory tariffs on U.S. farm goods — a potential barrier to exports.
Grassley has good words for ‘Tariff Man’
U.S. and China to ease, but not end, trade war next week
President Trump says he and Chinese officials will sign a "phase one" trade agreement at the White House on Jan. 15 that will de-escalate the Sino-U.S. tariff war that began in earnest in mid-2018. The agreement obligates China to buy up to $50 billion a year in U.S. farm exports, more than four times the sales level forecast for this year, according to U.S. officials, but details have not been released.
Brazil says Trump changed his mind on steel and aluminum tariffs
Three weeks after he slammed Brazil and Argentina for actions "not good for our farmers," President Trump reversed his decision to impose high tariffs on steel and aluminum imported from the South American nations, said Brazilian President Jair Bolsonaro on social media over the weekend. "The relationship between the United States and Brazil has never been Stronger!" tweeted Trump on the same day.
Farmers expect trade deal soon, but Trump says maybe not
Trump tariff payments may bring WTO woes, says think tank
Consensus elusive for Senate reform of ‘national security’ tariffs
Senate Finance chairman Chuck Grassley conceded one point this week: Steel and aluminum will be excluded from any reform of presidential power to impose tariffs based on national security interests. Even so, there is no agreement among senators on how Congress should reassert its authority over international trade.
Farmers support trade war despite their financial losses
Trump puts agriculture on list of potential ‘wealth fund’ investments
In a speech on Thursday, former president Donald Trump included “new and modern agricultural techniques” on a crowded list of potential investments from a yet-to-be-created wealth fund that might be bankrolled by import tariffs.