Maybe we should cut off cattle imports, says Trump
The United States “should look at the possibility of terminating” trade agreements that allow cattle imports into the country, said President Trump on Tuesday — a suggestion that would almost solely affect Canada and Mexico, partners in the USMCA. The National Cattlemen’s Beef Association …
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
President Trump says “it’s certainly an option” to impose additional tariffs on China, a step that could end hopes of large U.S. farm exports to the Asian rival. A resumption of trade hostilities could mean larger U.S. soybean carry-over stocks this Sept. 1 and in fall 2021, possibly 500 …
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. (No paywall)
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
U.S. farmers and ranchers would see modest gains in food and agriculture exports under the revised North American trade agreement announced by the White House and House Democrats on Tuesday, the same day the House moved closer to impeaching President Trump. Farm groups called for speedy …
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
In the largest numbers yet, farmers say they expect a trade deal soon with China and by even larger margins, they believe it will benefit them, said a Purdue University poll released on Tuesday, the same day that President Trump said an agreement could be a year away. “In some ways, I like …
Stronger-than-expected sales to China buoy US ag exports
The China-U.S. trade war cut deeply into U.S. farm exports to China, but not as far as initially estimated, said the Department of Agriculture on Monday. The agency forecasted $139 billion in agriculture exports, the largest amount in three years and up 3 percent from 2019. A key reason for …
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.
Trump tariff payments may bring WTO woes, says think tank
The United States could tarnish its leadership for fair trade in agriculture because of its multibillion-dollar trade-war payments to farmers, said a report issued by the free market American Enterprise Institute on Tuesday. Author Joe Glauber, former USDA chief economist, said the Market …
After ups and downs, farm groups look for finality on trade
As lawmakers become more vocal in criticizing Trump tariff payments, U.S. farm groups increasingly are quiet on trade issues. The reasons range from weariness to uncertainty over what's to come, whether it's the Sino-U.S. trade war, congressional approval of the USMCA with Canada and Mexico, or implementation of new ag trade rules with Japan, say analysts and farm group officials.
When U.S. started trade war, ag competition was already rising
For years, the United States was the indisputable global leader for agricultural exports, partly because it had a comparative advantage in farm production. But the U.S. advantage in pork, beef, corn and soybeans is waning, say two university economists, who conclude "this may have been the worst time to enter into a trade war."
Consensus elusive for Senate reform of ‘national security’ tariffs
Senate Finance chairman Chuck Grassley conceded one point this week: Steel and aluminum will be excluded from any reform of presidential power to impose tariffs based on national security interests. Even so, there is no agreement among senators on how Congress should reassert its authority over international trade.
Farmers expect more Trump tariff payments in 2020
Although farmers and ranchers overwhelmingly believe they will emerge as winners from the Sino-U.S. trade war, they also expect the Trump administration will send them billions of dollars in trade-war payments on 2020 crops yet to be planted, according to a Purdue University poll released Tuesday.
Cars slow progress on U.S.-Japan trade ‘mini-deal’
An accord expected to boost U.S. farm exports to Japan may not be complete in time for signature by President Trump and Prime Minister Shinzo Abe on the sidelines of the UN General Assembly this week. The so-called mini-deal would cover agriculture and digital trade but is being held up by Tokyo's request that the United States promise not to impose tariffs on cars imported from Japan.