Trade
Farm sector fears large losses from mounting trade conflict
The Farm Belt will get walloped if China retaliates in equal measure against Washington's $50 billion in announced tariffs on Chinese goods, said economists at Midwestern universities. Ohio State researchers said farmers in the Buckeye State could see a 50 percent drop in farm income while Iowa State's Chad Hart said producers in the Hawkeye State could lose up to $624 million this year, depending on how long the tariffs are in place and if other customers are found.
Play nicely, Canada, and you can keep supply management, Perdue says
Agriculture Secretary Sonny Perdue was quick to say he's not a NAFTA negotiator but he repeatedly told reporters during a visit to Prince Edward Island that "it is not our desire to do away with" Canada's supply management system for dairy – if Canada does a better job of managing the supply. "They can't use the supply management system to negatively affect our producers south of the border," said Perdue during a teleconference.
Trump wants to ruin us, say Canadian dairy farmers
President Trump has repeatedly attacked the Canadian dairy industry with the aim of "wiping out dairy farmers here at home," said Dairy Farmers of Canada on Monday. Meanwhile, U.S. and Canadian farm groups urged government leaders "to engage in positive discourse that protects the strong trade ties that benefit American and Canadian farmers alike."
‘We’re taking on water fast,’ say U.S. hog farmers as Mexico applies tariffs
Mexico, the top importer of U.S. pork, announced retaliatory 10-percent tariffs on Tuesday, rising to 20 percent in a month's time, that would effectively shut the door to the American meat. One of every five pounds of pork produced in the U.S. is sold to a foreign buyer.
‘By the time I finish,’ barriers to U.S. ag exports will be down, Trump says
President Trump told American farmers on Monday, "By the time I finish trade talks," China, Canada and Mexico, the three largest customers for U.S. farm exports, will remove trade barriers to American products. The president issued the assurances on social media after inconclusive talks with China over the weekend and three days after he said he was open to separate trade deals with Mexico and Canada instead of an updated NAFTA.
Hog farmers count losses as White House raps China on trade
Trump’s sky-high target of ag trade with China
President Trump is aiming remarkably high with his goal, relayed by Agriculture Secretary Sonny Perdue, of a $25 billion increase farm sales to China, already the largest customer for U.S. ag exports. Not only is $25 billion more than double what China is expected to purchase this year, it is equal to 18 percent of the forecast for total U.S. farm exports this year.
U.S. asks for WTO ruling on wine sales in British Columbia
The third-most populous province in Canada discriminates unfairly against U.S. wine, said the Trump administration in asking the World Trade Organization to rule on retail wine sales in British Columbia. The issue of wine sales in grocery stores has been raised in negotiations over the new NAFTA as well.
Senators protest using farmers as pawns in China-U.S. trade battle
China sets anti-dumping deposits on U.S. sorghum
The U.S. sorghum industry said it is a victim, not a perpetrator, of the broad trade dispute between China and the United States that threatens billions of dollars of farm exports. China's Commerce Ministry announced on Tuesday that anti-dumping deposits of 179 percent will be levied on U.S. sorghum as part of an investigation that began when President Trump put tariffs on imports of solar panels and washing machines from China.
Reply to Trump aid offer: ‘We don’t need another subsidy program’
President Trump says his administration will "make it up" if farmers and ranchers are hurt by Chinese trade retaliation. Two agricultural leaders in Congress were skeptical of possible politically driven bail-outs on Tuesday, with Senate Agriculture chairman Pat Roberts saying, "We don't want another subsidy program. We need to sell our product."
To offset tariffs, USDA may buy farm products
China threatened to put 25 percent tariffs on U.S. farm exports "because they think it hits me," President Trump said on Monday, but "we'll make it up to them (farmers) and in the end they're going to be much stronger than they are now." Deputy Agriculture Secretary Steve Censky, at a separate appearance, said the USDA was considering options that include purchase of surplus commodities to prop up prices.
China’s new tariff target list: U.S. soybeans, cotton, corn, beef, wheat
As the Trump administration is moving ahead with $50 billion in tariffs on Chinese-made technology products, Chinese officials "indicated in a very gentle way" that U.S. soybeans could face retaliation, said Iowa Sen Chuck Grassley. "Only time is going to tell" if President Trump will win the trade dispute, said Grassley, who met Chinese officials last week as part of a congressional delegation visiting China and South Korea.
China packs a punch with tariffs on imports of U.S. pork
Hog farmers are headed for a money-losing year and a major factor will be the drying up of $1 billion a year in exports to China, says Purdue economist Chris Hurt. But Chinese consumers will feel little pain from the 25 percent tariff on U.S. pork because the EU and Canada are alternative suppliers. China acted sooner than expected with its weekend announcement of $3 billion of counter-measures on U.S. goods in response to President Trump's tariffs on imported steel and aluminum.
China targets U.S. pork and apples, but not soybeans so far
Three years after gaining full access to Chinese consumers, U.S. apple growers may be hit with a 15 percent tariff in a rapidly growing market. Beijing listed agricultural products, including fresh fruit, pork and wine, as potential targets for retaliation because of Trump administration tariffs on imported steel and aluminum, putting U.S. producers on edge about the possible loss of valuable markets.
A new round of retaliation worries for U.S. farmers
President Trump could order $60 billion in tariffs on Chinese products before the end of the week, according to the Washington Post and other reports. U.S. agricultural leaders said they expect farmers will be hit if China retaliates. "Has there ever been a retaliation that didn't include agriculture?" asked Chuck Conner, head of the National Council of Farmer Cooperatives.
One-third of farmers believe U.S. will withdraw from NAFTA
There is tremendous uncertainty in farm country about the future of NAFTA, with one-third of producers responding to a Purdue survey saying they believe it is likely the United States will withdraw from the free trade agreement.
Bourbon, cheese could be targets of brewing trade battles
The Trump administration is considering new limits on imported steel and aluminum. Now U.S. trade partners are warning that trademark American products, like bourbon, cheese, and orange juice, could face higher tariffs in retaliation.