Trade
Farmers doubt China will meet phase-one target for ag imports
China makes its largest ever purchase of U.S. corn
Press China to buy more, farm groups say to Trump
The "phase one" trade agreement with China could be the foundation of rural and food-sector prosperity, said 192 farm and agribusiness groups in a letter to President Trump on Tuesday that called for timely implementation of the pact, signed five months ago at the White House.
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.
China buys more; will it be enough for ‘phase one’?
Maybe we should cut off cattle imports, says Trump
China trade advisers talk of renegotiating U.S. trade pact – report
Some Chinese trade advisers are arguing that Beijing should invalidate the "phase one" trade agreement that de-escalated the Sino-U.S. trade war as retaliation for a U.S. coronavirus blame campaign, reported a state-controlled Chinese newspaper on Monday. The agreement obliges China, formerly the top customer for U.S. ag exports, to buy roughly $40 billion a year of American food, agricultural and seafood products.
Soybean stocks to surge if Sino-U.S. trade war flares
Labor shortages, SNAP cuts, trade deals: How could coronavirus affect our food supply chain?
Although U.S. shoppers concerned about the coronavirus pandemic have largely emptied stores of paper products and household cleaning supplies, so far most other grocery aisles remain stocked. Still, as the virus spreads across the U.S., it could expose other weaknesses in our food supply chain, experts say. <strong>(No paywall)</strong>
National Farmers Union elects new president; Perdue reassures on trade
The National Farmers Union elected Rob Larew, the organization’s senior vice president of public policy and communications, as president at its annual convention Monday in Savannah, Georgia. Larew will take the helm from outgoing president Roger Johnson, a former agriculture commissioner of North Dakota, who served in the role since 2009.
Will total U.S. ag exports rise if China buys more?
Without a doubt, the best outcome from the "phase one" agreement with China "is the possibility of U.S. exports to China returning to pre-trade war levels," says economist Dave Widmar. But it's not clear how larger sales to China would affect overall U.S. ag exports, which are forecast at $139 billion this year and have varied from a low of roughly $130 billion to a record-high $152 billion over the past several years.
Lighthizer seeks to reassure Mexico on USMCA deal
With the "new NAFTA" nearing a House vote, U.S. trade representative Robert Lighthizer assured Mexico that disputes over labor provisions of the trade agreement will be resolved by independent panels. Mexico was suspicious that a U.S. proposal to post five Labor Department attaches in Mexico City was an underhanded way of bringing foreign labor inspectors into the country.
A deal on USMCA, but final approval will wait until 2020
Painful ag restructuring if Sino-U.S. trade war persists
If there is no near-term resolution of the Sino-U.S. trade war, the Trump administration will need to spend billions of dollars in additional trade war payments to farmers and ranchers or watch farm income sink, said two economists on Monday. Either way, there would be painful restructuring in the sector, which has collected more than $10 billion in Trump tariff payments this year.
Farmers expect trade deal soon, but Trump says maybe not
Stronger-than-expected sales to China buoy US ag exports
Trump slaps tariffs on Brazil, Argentina metals – and French champagne
Brazil and Argentina are taking actions that are "not good for our farmers," said President Trump on Monday, announcing high tariffs on steel and aluminum imports from the South American nations. Trump, who announced the tariffs on social media, said the weakening Brazilian real and Argentina peso adversely affects U.S. manufacturing and agricultural exports, making American-made goods more expensive.