trade war
In Farm Belt, objections mount to ‘endless tariff war’
As trade war lengthens, Trump orders another bailout for farmers
For the second time in 14 months, President Trump announced a multibillion-dollar government intervention to prop up the farm sector, a prominent casualty of the Sino-U.S. trade war. The first bailout, announced in April 2018, has sent around $8.3 billion in cash to growers so far; the new rescue will buy "agricultural products from our Great Farmers, in larger amounts than China ever did, and ship it to poor & starving countries in the form of humanitarian assistance," the president said on social media.
Sharply lower farm-gate prices forecast for U.S. crops
Farmers growing the three major U.S. crops — corn, soybeans and wheat — can expect a sizable decline in the average sales price for this year's harvest instead of the mild upturn that was forecast in late February, said the USDA. In its first projection of the fall harvest, the USDA said season-average prices for the three crops would be 8 to 10 percent lower than anticipated at its Outlook Forum.
Don’t look for farm bailout by Congress, warns Peterson
On Thursday, hours before the second-largest U.S. farm group said producers “are in desperate need of a lifeboat to keep them afloat,” the House Agriculture chairman said that fiscal constraints would preclude Congress from a multibillion-dollar bailout for farmers.
The greatest ag risk, say some bankers, is an adverse trade outcome
Farm income weakened in much of the Midwest and Plains during the opening months of this year, said reports from regional Federal Reserve banks on Thursday, with ag bankers telling the St. Louis Fed that an adverse trade outcome is clearly the most significant threat to agriculture in 2019. On Friday, the Trump administration increased the tariffs on $200 billion worth of Chinese goods.
China warns of ‘countermeasures’ if U.S. tariffs rise
On Wednesday, the Trump administration turned a weekend threat into a promise of sharply higher tariffs on Chinese products and Beijing declared it would take the “necessary countermeasures” — all on the day before ministerial-level talks to resolve the Sino-U.S. trade war were set to resume.
Farmer sentiment darkens as China hopes fade
Trump threatens half a trillion dollars in China tariffs
Three days ahead of the arrival of a Chinese trade delegation, President Trump said he would impose 25 percent tariffs on $525 billion of Chinese products as leverage for a resolution of the Sino-U.S. trade war that led to retaliatory duties on U.S. exports including soybeans. "The Trade Deal with China continues, but too slowly, as they attempt to renegotiate. No!" said Trump on social media.
Looking for a ‘huge vote’ in Senate to limit national-security tariffs
Senate Finance chairman Chuck Grassley is working with like-minded senators on crafting a bipartisan bill to limit the president’s power to impose import tariffs in the name of national security. “We’ve got to get a huge vote on it because it could be vetoed by the president,” said Grassley on Wednesday.
Small ag banks mitigate the risk of rising demand for farm loans
In an indirect sign of stress in the farm sector, small agricultural banks are making adjustments, such as syndicating loans and charging higher interest rates, to offset risk in the face of high demand for farm loans, said the Federal Reserve in its quarterly Ag Finance Databook. The Fed's Beige Book, meanwhile, said spring floods in the northern Plains and western Corn Belt could put an additional burden on a farm sector coping with low commodity prices.
Two more rounds of Sino-U.S. trade talks planned
U.S.-China negotiations to resolve the trade war are “moving along quite well,” said President Trump on Wednesday. Meanwhile, published reports said two rounds of talks were scheduled for late April and early May.
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.”
Farmers expect to win Sino-U.S. trade war
Farmers say they will plant fewer acres this year
Aside from planning a 4-percent expansion of corn area, U.S. farmers aren't enthusiastic about spring planting. With little improvement expected in commodity prices, growers say they will plant fewer acres of soybeans, wheat, cotton, rice, sorghum and oats than in 2018, and they'll stand pat on barley.
Big soy crop globally even if U.S. cuts back
U.S. farmers will harvest a sharply smaller soybean crop this year, driven away from the oilseed by weak market prices and a staggeringly large soy surplus resulting from a string of bumper crops. Even so, the International Grains Council projects the third year in a row of record-large soybean production globally.
U.S.-China trade talks to run into April
The United States and China will open ministerial-level negotiations "aimed at improving the trade relationship" on Thursday, the White House announced over the weekend. A week later, on April 3, Vice Premier Liu He will bring a delegation to Washington for further discussions about resolving the trade war that began last summer.
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.