Trump trade rollercoaster heads back up but with conflicting claims

After a weekend in which Trump lashed out angrily at China, calling its leader "an enemy," Trump was making nice again at the end of the G7 meeting on Monday, praising Chinese President Xi Jinping as a "great man" and saying prospects for a trade deal looked brighter. Soybean prices rose on the news.

As Trump delays tariffs, he says China wants to buy US ag exports

China intends “to buy a lot of farm product,” said President Trump on Tuesday, describing “a very, very productive call” between U.S. and Chinese trade negotiators. At the same time, the White House announced it would delay 10 percent tariffs on electronics such as cell …

Trump ambivalent on trade talks with China next month

The United States might cancel trade talks with China scheduled for early September, said President Trump as he left Washington for the weekend. "We're not ready to make a deal, but we'll see what happens," said the president. "We’ll see whether or not we keep our meeting in September. If we do, that’s fine. If we don’t, that’s fine."

Trump threatens long-running trade war with China

President Trump offered contradictory assessments of Sino-US trade talks on Tuesday, but both suggested a lengthy trade war. China hinted that strong-arm U.S. tactics would not work. Senior Chinese and U.S. officials met in Shanghai on Tuesday for their first face-to-face negotiations in more …

Ag purchases would show good faith by China, says Kudlow

There is no deadline for resolving the Sino-US trade war, said White House economic advisor Larry Kudlow on Tuesday. But he said China ought to purchase U.S. soybeans and wheat as a sign of good faith while negotiations are under way. Kudlow’s comments, made during a CNBC “Capital …

Trump tariff payments may prop up financially weak farms

The past five years, since the collapse of the commodity boom, “has resulted in a massive drain of farm sector liquidity” and working capital is critically low, said economist Brent Gloy on Monday. The new round of up to $14.5 billion in trade mitigation payments promised by …

Some ‘plussing up’ needed before White House seeks USMCA vote

U.S. trade representative Robert Lighthizer said he was in discussions with House Democrats about “plussing up” the new NAFTA and shied away on Tuesday from suggesting when the White House will ask for a vote on it. Senate Finance chairman Chuck Grassley told reporters that he hoped …

Maybe a ‘minimal’ Trump payment on prevented plantings, Perdue says

The USDA will not make Trump tariff payments on farmland that is not planted this year, because it's not allowed by law to do so, said Agriculture Secretary Sonny Perdue on Monday. But there may be a way to provide some assistance to growers from the $14.5 billion in Market Facilitation Program (MFP) funds allotted for this year's crops, Perdue said, ahead of President Trump's visit to Iowa.

Trump tariff payments could triple farm subsidies this year

When Congress passed the 2018 farm policy law, analysts estimated farm subsidies would cost an average $6.1 billion a year. The Trump tariff payments, ordered by the White House to mitigate the impact of trade war, could triple the total for expenditures to farmers this year.