economic

CBO: Trade War to Slow Economic Growth

Dan Economy, Exports/Imports, Industry News Release, Trade

(NAFB) — The bipartisan Congressional Budget Office says the trade war will slow economic growth, adding more fears of a possible recession.The CBO says tariffs, which reduce U.S. gross domestic product through higher prices, reduces consumer purchasing power. The report predicts the economy will grow at 1.8 percent per year over the next decade, below historical average growth rates. Agriculture …

asf

Pork Industry Receives USDA Grant to Open ASF Dialogue in Asia

Dan Industry News Release, Pork

WASHINGTON, D.C. AND AMES, IA (NPPC) – The global outbreak of African swine fever (ASF), a disease affecting only pigs with no human health or food safety risks, is growing, with new cases appearing throughout Southeast Asia and China. While there are no reported cases of ASF in the U.S., a grant recently awarded to the Swine Health Information Center …

usmef

NCBA on Agreement in Principle with Japan

Dan Beef, Cattle, Exports/Imports, Trade

This past weekend, it was announced that the U.S. and Japan had agreed in principle on a trade deal that will include agriculture and improve access for U.S. beef in Japan. National Cattlemen’s Beef Association (NCBA) Senior Director of International Trade, Kent Bacus, discusses the announcement and what it really means for U.S. beef exports to Japan. Bacus says getting a deal done with …

usmef

Ag Groups Celebrate Trade Agreement With Japan

Dan Exports/Imports, Industry News Release, Pork, Trade

The United States and Japan have agreed in principle to a trade deal. In a report from Gary Crawford, President Donald Trump talks about the new agreement. Secretary Perdue on Japan Agreement WU.S. Secretary of Agriculture Sonny Perdue issued the following statement regarding the new trade agreement between the United States and Japan: “Japan is a significant market for United …

announcement

Another China Tariff Announcement Signals More Trouble

Dan Exports/Imports, Industry News Release, Trade

(AFBF) — The following may be attributed to American Farm Bureau Federation President Zippy Duvall: “China’s announcement of imposing additional tariffs on $75 billion of U.S. imports signals more trouble for American agriculture. Farm Bureau is currently assessing the details of this announcement, but we know continued retaliation only adds to the difficulties farm and ranch families are facing and …

tariff

American Soybean Association on Chinese Tariff Escalation

Dan Exports/Imports, Industry News Release, Soybeans, Trade

Washington, D.C. (ASA) — China has announced it will impose an extra 5% tariff on U.S. soybeans starting Sept. 1 and an additional 10% duties on other major U.S. crops also grown by many soybean farmers starting mid-December. These latest details come after China vowed earlier this week that it will retaliate if the U.S. goes through with its plan …

alabama

First Round of MFP Payments Underway

Dan Economy

The process for the first round of Market Facilitation Program (MFP) payments is underway. Farm Service Agency Director Richard Fordyce says the first payments have been mailed out. Round one of the three potential payments is 50 percent of the overall amount farmers may receive. Fordyce says expects up to $14.5 billion of payments will be sent to farmers, pending the trade negotiation …

trump

Trump Asking Japan to Purchase U.S. Ag Products

Dan Exports/Imports, Industry News Release, Trade

(NAFB) — President Trump is asking Japan to purchase U.S. farm products as the two nations seek a small trade deal including agriculture. Trump asked Japanese Prime Minister Shinzo Abe to buy a “huge amount” of U.S. wheat and soybeans as the negotiations continue, according to Reuters. Japan and the United States are targeting an agreement by September on trade …

trade talks

Hopeful for Constructive Trade Talks with China

Dan Exports/Imports, Industry News Release, Trade

An American Farm Bureau Federation (AFBF) official says President Trump’s decision to delay much of his latest tariff threat against China is a hopeful sign constructive trade talks can re-start. AFBF trade adviser Dave Salmonsen hopes the delay to December 15 in Trump’s 10-percent duty on some Chinese electronics, footwear and clothing, will do more than just avert higher holiday …

canada agricultural

Opportunities for U.S. Agricultural Exports in Canada

Dan Aquaculture, Corn, Exports/Imports, Forestry, Industry News Release, Specialty Crops

(USDA/FAS) — Canada is the United States’ largest export market for agricultural and agricultural-related products (includes distilled spirits, ethanol, biodiesel, fish, and forest products) with exports valued at $25 billion in 2018, accounting for more than 15 percent of total U.S. agricultural exports to the world. Canada is the only market where U.S. agricultural exports have consistently exceeded $20 billion …