tariffs
EU won’t discuss agriculture in trade talks with U.S.
Leaders of EU countries agreed to open trade talks with the United States on Monday with the goal of eliminating tariffs on industrial goods but said that agricultural products would not be part of the negotiations.
U.S. farm products likely targets as Canada refreshes tariff list
Canada could soon propose retaliatory tariffs on "a significant number of agricultural products," including U.S. wine, pork, apples and ethanol, as part of its campaign for removal of American tariffs on steel and aluminum, said ambassador David MacNaughton on Monday. The food and ag products would be part of a "refreshed" list of tariffs that originally took effect last July 1.
Trump, dropping Mexico threat, says ‘very close’ to China deal
U.S. and Chinese negotiators may be within four weeks of resolving the Sino-U.S. trade war, said President Trump on Thursday. Trump said the nations are working on a comprehensive agreement. “And whether it’s our farmers or our technology people, all of them will be really happy.”
Pence hears grumbles about tariffs as he promotes the new NAFTA
Vice President Mike Pence told Indiana farmers on Thursday that the Trump administration is “absolutely determined to see the USMCA completed and ratified by the U.S. Congress this spring.” During his visit, the vice president heard complaints about tariffs on agricultural products from “numerous” crop and hog farmers.
Grassley urges Trump to remove tariffs on Canada and Mexico
To speed approval of the successor to NAFTA, President Trump should remove tariffs on steel imported from Canada and Mexico, said Senate Finance Committee chairman Chuck Grassley on Monday.
Senators mull limits on ‘national security’ tariffs
Senate Finance Committee chairman Chuck Grassley has lots of company in considering limits on the president’s power to impose tariffs on national security grounds. In the coming weeks, Grassley expects to introduce a bipartisan bill to reform these so-called Section 232 tariffs.
Tariffs on China ‘for a substantial period of time,’ says Trump
An agreement between China and the United States to resolve the trade war “is coming along nicely,” said President Trump on Wednesday, although U.S. tariffs could remain in force for some time to assure that China lives up to the terms of the deal.
On trade: Long-term gain or long-term pain?
The Trump administration says its policy of confrontation with trading partners, such as the trade war with China and tariffs on steel and aluminum imports from Canada and Mexico, will lead to more advantageous relations for the United States. But Bill Reinsch, of the think tank Center for Strategic and International Relations, says the promise of "short-term pain, long-term gain" is unlikely to come true.
Trump asks China to remove tariffs on U.S. ag exports
With the trade war stunting U.S. farm exports after two years of growth, President Trump said he has asked China to remove its retaliatory tariffs on U.S. food and ag exports. Trump announced the request on the same day four large farm groups opened their annual meetings with a joint endorsement of the new North American trade pact negotiated by the White House.
WTO rules China gave its growers unfair wheat and rice subsidies
The Trump administration, with the weight of a WTO ruling behind it, called on China on Thursday to eliminate trade-distorting wheat and rice subsidies that cost U.S. farmers hundreds of millions of dollars a year in export sales. The WTO panel report may provide impetus to negotiations to resolve the Sino-U.S. trade war.
Agriculture remains an issue as Sino-U.S. trade talks resume
The White House is looking for additional progress in negotiations this week to resolve the Sino-U.S. trade war even as it cautions that “much work remains.” Agriculture is among the structural issues under discussion, according to the administration.
Net farm income to rebound in 2019 as farmers pare expenses
After hitting a pothole in 2018, U.S. net farm income will recover this year under the combined effects of financial belt-tightening and rising crop prices, said the USDA on Thursday. It projected net farm income of $77.6 billion in 2019, which would be the highest total since the commodity boom collapsed in 2014.
Potentially more profitable, cotton takes over soybean ground
Cotton growers plan to expand their plantings by a sharp 3 percent this spring, taking away land from soybeans, the most prominent casualty of the Sino-U.S. trade war, said the National Cotton Council over the weekend. Meanwhile, the USDA said the soybean stockpile will double in size by the time this year's crop is ready to harvest, creating the largest "carryover" ever.
In trade war respite, China buys 2.25 million bushels of U.S. soybeans
The USDA confirmed on Monday the sale of 612,000 tonnes (2.25 million bushels) of U.S. soybeans to China, a small part of the 5 million tonnes promised to President Trump last week and much less than traders suggested over the weekend. China used to be the largest customer in the world for U.S. soybeans but retaliatory tariffs have reduced sales to one-eighth of their usual pace.
At the White House, Chinese official says his country will buy more U.S. soybeans
In a letter read aloud at the White House, Chinese President Xi Jinping said Beijing will buy more U.S. farm exports, a decision that President Trump hailed on Thursday as a sign of good faith in ongoing negotiations to end the trade war between the nations.
Stronger safety net needed, says second-largest U.S. farm group
Many farmers "are struggling to stay afloat" because of the trade war and persistently low commodity prices, said the National Farmers Union board on Tuesday, calling on Congress and the White House to strengthen the federal safety net. Separately, the president of the American Farm Bureau Federation (AFBF) said another multibillion-dollar round of Trump tariff payments may be needed.
Farm sector in Plains is in ‘prolonged downturn,’ says Kansas City Fed chief
U.S. economic growth is likely to slow this year after a strong expansion in 2018, said Esther George, president of the Kansas City Federal Reserve Bank on Tuesday. In a speech, George pointed to emerging stress throughout the economy and said in the Plains, "the farm sector is in a prolonged downturn as a result of declining agricultural prices, made worse by retaliatory tariffs on U.S. farm products."
Trump trade war: ‘We’re going to hang with him,’ says Farm Bureau chief
The Sino-U.S. trade war, which as stymied U.S. farm exports, "is going to be a long one, and we keep delivering the message, 'We're with you, Mr. President,'" said the leader of the largest U.S. farm group on Sunday, adding a caveat. "The runaway of our patience is going to be determined by the financial situation of our farms. We went into the battle very weak." <strong>(No paywall)</strong>
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.