tariffs
Farmers fear trade war impact despite Trump tariff payments
Half of the producers in a Purdue poll say announcement of Trump tariff payments did nothing to allay their concerns about lost income during trade war with China and other major customers for U.S. ag exports. Some 71 percent of crop and livestock producers expect a decline in farm income from trade conflicts but not as deep as initially feared, according to the Ag Economy Barometer released on Tuesday.
Dairy is the big farm issue for NAFTA, says Perdue
Dairy is not the only agricultural dispute between the United States and Canada, but it is the biggest one, according to Agriculture Secretary Sonny Perdue. Senior U.S. officials say the new NAFTA must include greater U.S. dairy access to Canada.
Trade war ends China’s role as top U.S. ag export customer
Canada, runner-up for most of this decade, has replaced China as the top market for U.S. farm exports because of the high tariffs that have discouraged sales in the Sino-U.S. trade war, said the Agriculture Department on Wednesday. China will finish this year as the No. 3 customer for U.S. ag exports, behind Mexico.
Midwest scores big on Trump tariff payments; decision on second round in early December
Nearly half of the $4.7 billion in Trump tariff payments will go to five midwestern states that are the largest soybean and hog producers in the country, said a farm group analysis on Tuesday. At the same time, an environmental group challenged the USDA to explain its opaque development of the bailout package.
Farmers to cool on soybeans, switch back to corn as No. 1 crop
Stung by a trade war with China, ordinarily the purchaser of one-third of the U.S. soybean crop, farmers will switch decisively to corn in 2019, reinstating it as the most widely grown crop in the country, according to a Farm Futures survey of growers.
Trump’s farmer bailout: half now, the rest later … maybe
President Trump's promise to protect U.S. agriculture from retaliatory tariffs by China and other countries will be paid on the installment plan — half this fall and the rest in December, or early 2018 if assistance is still needed, said Agriculture Secretary Sonny Perdue on Monday. The USDA announced $6.2 billion in outlays that will begin in September, with soybean growers in line for $3.6 billion of it.
Two sides of Washington: Trump bailout and China tariffs
The Trump administration will hear hours of testimony about its proposed 25 percent tariffs on $200 billion in Chinese products on Monday, overlapping with the expected USDA announcement of up to $12 billion in aid for U.S. agriculture to offset the impact of Chinese tariffs on farm exports. Soybean growers are likely to get the largest share of the spending since the oilseed is the largest ag export to China.
Trump tariff bailout may be sunlight ahead of storm clouds over farm sector
Crop and livestock producers are likely to learn on Monday how the Trump administration will allocate up to $12 billion in aid to offset the impact of retaliatory Chinese tariffs on the U.S. farm sector, said Agriculture Secretary Sonny Perdue.
Will soybean growers get the lion’s share of Trump tariff payments?
Soybeans are the largest U.S. farm export to China, and growers of the oilseed may be in line for huge federal payments, worth an average of $85 an acre, to offset the impact of retaliatory Chinese tariffs. Corn growers, meanwhile, might not get enough per acre to buy a cup of coffee at many restaurants.
Anxiety mounts in farm country as details lag on Trump’s tariff-driven bailout
With commodity prices dropping and farm income projected to plummet, America’s farmers are growing increasingly anxious over the lack of specifics about how much money they’re going to get, and when they’re going to get it, from President Trump’s $12-billion bailout, reports The Wall Street Journal.
Trade war could cost U.S. fruit and nut industries $3 billion a year
The U.S.'s current trade war expands beyond China—India, Mexico and Turkey also have placed tariffs on U.S. fruits and nuts. The cumulative effect of the tariffs could cost the U.S. fruit and nut industries $2.64 billion per year directly and an additional $700 million by reducing prices in alternative markets, says a study by the Agricultural Issues Center at the University of California.
With tariffs in place, China slows pace of soybean imports
Chinese imports of soybeans during July were 8 percent smaller than in June as the nation digested a soy glut at its ports, said AgriCensus on Wednesday. Imports tumbled at the same time that China imposed retaliatory tariffs on U.S. goods in the escalating tit-for-tat trade war with the United States.
U.S. puts new tranche of tariffs on Chinese goods
The Trump administration is going ahead with 25 percent tariffs on $16 billion in high-tech imports from China, said the U.S. trade representative's office on Tuesday. Customs officers will begin collection of the duties on Aug 23.
How much U.S. aid for soybean growers?
The Trump administration could pay substantial amounts to soybean growers under its $12-billion plan to shield U.S. agriculture from harm in the tariff war with China, said the head of a University of Missouri think tank on Thursday.
Disruption in U.S. cotton and soy exports loom due to trade war
One of the world's largest grain companies warned of a "skinny export season" for U.S. soybeans and an intergovernmental body said the United States might need to seek new markets for its cotton due to President Trump's trade war with China. Meanwhile, the Trump administration threatened on Wednesday to put 25-percent tariffs on $200 billion worth of Chinese imports as leverage for reform.
‘Tariffs are working big time,’ says Trump; China threatens counterpunch
Perdue on the EU: ‘They need to step up and buy’
The United States expects Europe to follow through on a promise to buy more U.S. soybeans, said Agriculture Secretary Sonny Perdue on Monday. At the same time, he said that America will not respect EU claims to the exclusive use of such food names as Parma ham or Roquefort cheese.
Perdue estimates $7 billion to $8 billion in cash payments to producers
Two-thirds of the Trump tariff bailout of U.S. agriculture will be paid in cash to crop and livestock producers, said Agriculture Secretary Sonny Perdue over the weekend. Some $200 million of the aid will be spent on developing new export customers, Perdue told Reuters, and the rest would be used to purchase food for donation, to indirectly help other producers.
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.