(NAFB) — In a flurry of meeting with reporters Tuesday in London, President Donald Trump says he has no deadline for finalizing a complete trade deal with China. China and the U.S. are still working to reach a phase one agreement, with an unofficial deadline of December 15, but an overall agreement may extend beyond the 2020 elections. Trump told …
USMCA, U.S.-China Deal Pushing Forward
(NAFB) — Both the U.S.-Mexico-Canada Agreement (USMCA) and a phase one agreement of a deal between the U.S. and China appear to be slowly edging forward. The Hagstrom Report quotes House Speaker Nancy Pelosi as saying, “We are within range of a substantially improved agreement for America’s workers. Now, we need to see our progress in writing from the trade …
Ag Exports Projected to Fall in 2019
(NAFB) — The U.S. Department of Agriculture (USDA) projects the fiscal year 2019 U.S. agricultural trade balance to fall to $5.2 billion. USDA’s Economic Research Service projects exports at $134.5 billion and imports at $129.3 billion, leaving a $5.2 billion surplus, the lowest since fiscal year 2006. Unlike overall U.S. trade in goods and services, U.S. trade in the agricultural …
EU Parliament Approves Increased U.S. Beef Access
(NAFB) — It was a happy Thanksgiving for U.S. beef producers. The European Parliament voted last Thursday to approve a plan that grants the U.S. a country-specific share of the European Union’s duty-free, high-quality beef quota. The agreement was originally signed back in August. The U.S. Meat Export Federation was pleased to hear of the approval. “Approval by the European …
2019 Trade Aid May Violate WTO Commitments
(NAFB) — A recent independent report suggests U.S. trade aid in 2019 for farmers may surpass limits set in World Trade Organization commitments. The report for the American Enterprise Institute by Joe Glauber, a former Department of Agriculture Chief Economist, suggests the size of payments made to producers in 2019 may encourage other WTO members to challenge the payments. Glauber …
“Phase Two” U.S. and China Agreement not Imminent
(NAFB) — U.S. and Beijing officials, lawyers, and other trade experts all tell Reuters that a “phase two” trade deal between the U.S. and China is nowhere near imminent. The two largest economies in the world are still having trouble getting the phase one deal signed. Back in October, U.S. President Trump said he expects to quickly start on phase …
Feed Industry says China still has Partial U.S. Poultry Ban in Place
(NAFB) — The American Feed Industry Association says China’s lifting of its ban on U.S poultry imports is only a “partial” lifting. The association has received official confirmation from USDA’s Animal and Plant Health Inspection Service that the announcement only includes poultry imports for human consumption. It doesn’t include other poultry products, such as those used in pet foods. At …
ASI President on USMCA
Many in agriculture had hoped the U.S.-Mexico-Canada Agreement (USMCA) would be passed this year, but it now is appearing doubtful. After Speaker of the House Nancy Pelosi met with U.S. Trade Representative Robert Lighthizer and House Ways and Means Committee Chair Richard Neal last week, there was still no deal and there is not much time left on the legislative clock. Trade …
U.S. Pork Can Reduce Overall U.S. Trade Deficit with China by Nearly Six Percent
Nearly 200,000 New American Jobs; Doubling U.S. Pork Sales Among Other Benefits of Duty-Free Access to China Over 10 Years (NPPC) — Securing zero-tariff access to China for U.S. pork would be an economic boon for American agriculture and the country, according to the National Pork Producers Council (NPPC). Based on an analysis by Iowa State University (ISU) Economist Dermot …
Hoping to See More U.S. Beef in Japan
We told you last month that many cattle producers are looking forward to seeing more U.S. beef going to Japan. The U.S.-Japan Trade Agreement was recently signed by President Trump, but there are still many details that have to be ironed out first. National Cattlemen’s Beef Association (NCBA) Director of International Trade and Market Access, Kent Bacus, says part of the overall …