tariff increases

Tariff Increases Delayed as ‘Good Will’ Gesture

Dan Economy, Exports/Imports, Trade

The tariff increases for Chinese imports that were scheduled to be implemented on Oct. 1 are now being delayed by two weeks, in what President Donald Trump is calling “a gesture of good will.”  The announcement made via Twitter came on the heels of Chinese officials granting a one-year exemption on retaliatory tariffs on 16 American products. President Trump noted …

china

NPPC Statement on China Market Access

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

WASHINGTON, D.C. (NPPC-Sept. 13, 2019) — Chinese media reported that it was suspending the imposition of punitive tariffs on U.S. pork imports. The following is a statement from National Pork Producers Council (NPPC) President David Herring, a pork producer from Lillington, N.C.: “If media reports are accurate, this is a most welcome development. The Chinese have placed punitive tariffs of …

purchase

China Ready to Purchase U.S. Ag Goods

Dan Exports/Imports, Industry News Release

(NAFB-September 11, 2019) — China is expected to agree to purchase more U.S. agricultural products in hopes of a better trade agreement. The South China Morning Post reports working-level officials were discussing the text of a deal, which would be reviewed when trade officials meet in Washington next month. The text is based on details negotiated back in April, before …

month

U.S. and China to Talk Trade Next Month

Dan Exports/Imports, Trade

It has been announced that negotiators from the United States and China will meet in October to discuss trade issues. Following a phone conversation between China’s Vice Premier and U.S. Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer Thursday morning, China announced negotiators plan to travel to Washington next month for high-level talks, and will continue consultations through …

trade

Hoping to Restore Trade Relations with China

Dan Exports/Imports, Trade

Trade issues have been a concern for many in agriculture for quite some time, especially with what has been taking place between the U.S. and China. It was back in April when the National Cotton Council (NCC) joined with more than 40 other agricultural organizations in writing a letter to President Trump regarding the trade situation with China. And NCC Vice President …

trump

Trump Says Tariff Income to Help Hurricane-Damaged Farms

Dan Economy, Florida, Georgia

(NAFB) — President Donald Trump told reporters Wednesday that money the U.S. receives from tariffs on China will help farmers recover from Hurricane Dorian. Trump says, “we’ve taken in many billions of dollars of tariffs from China and we will have a lot of money to be helping our farmers along the coast if they get hit.” The President made …

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 …

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 …

china

China Makes August U.S. Pork Purchase

Dan Exports/Imports, Industry News Release, Pork

(NAFB) — The world’s biggest pork consumer bought just over 10,000 tons of U.S. pork sometime between August 2-8. Reuters says that was the biggest purchase of American pork in almost two months. The pork purchase is due for shipment this year as African Swine Fever continues to ravage the world’s biggest pork herd. The Chinese Commerce Ministry had said …