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 …

chinese

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 …

china 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 …

china talks

Trump Delays Tariff Hike Until December

Dan Economy, Industry News Release, Trade

(NAFB) —The Trump administration will delay part of a planned tariff increase on China until December. The U.S. Trade Representative’s office made the announcement Tuesday the administration would not implement the planned tariffs. Instead, the tariffs will be implemented December 15, 2019. USTR Robert Lighthizer says certain products are even being removed from the tariff list based on health, safety, …

total

China’s Buying Halt of U.S. Ag May Not Be Total

Dan Exports/Imports, Trade

Many in agriculture are concerned after it was announced this week that China was stepping away from purchasing U.S. farm imports after President Trump increased tensions by his proposal to add 10% tariffs on another $300 billion in Chinese imports starting September 1. And while some say this stoppage may not be total, it’s still not good news for many farmers …

farmers

China Trade Standstill More Bad News for Farmers

Dan Exports/Imports, Industry News Release, Trade

The following statement is fromAmerican Farm Bureau Federation President Zippy Duvall: “China’s announcement that it will not buy any agricultural products from the United States is a body blow to thousands of farmers and ranchers who are already struggling to get by. “In the last 18 months alone, farm and ranch families have dealt with plunging commodity prices, awful weather …