The good news from last week’s announced partial trade deal with China is a possible doubling of spending on U.S. farm goods. But, the flip side of that coin is continuing uncertainty over details. Spending has gone from nearly $20 billion in 2017, to less than $10 billion so far, this year, to as much as $40 to $50 billion …
Trump: China Ag Purchases Already Underway
(NAFB) — President Donald Trump says China will immediately start buying U.S. agricultural products. Via Twitter over the weekend, Trump says China will start buying “very large quantities†of U.S. farm products, adding, “they have already started.†The administration says the agreement Friday includes $40-$50 billion of commodity sales to China over the next couple of years. China already had …
U.S., China Reach Limited Trade Agreement
(NAFB-Oct. 11, 2019) — The U.S. reached a limited trade agreement with China on Friday afternoon that would pave the way for resolutions on broader issues later in the year. Business Insider Dot Com says it temporarily defuses a dispute between the worlds’ two largest economies. President Donald Trump told reporters in the Oval Office that, “We’ve come to a …
U.S. Japan Trade Deal Good for Beef Industry
Earlier this week, President Trump signed the U.S.-Japan Trade Agreement, which is an important step forward with U.S. agriculture’s fourth-largest export market. During a media conference call Thursday, National Cattlemen’s Beef Association (NCBA) Director of International Trade and Market Access, Kent Bacus, said this is a monumental development. According to NCBA, in 2018 Japanese consumers purchased $2.07 billion of U.S. …
Strong August U.S. Pork Exports, Beef Exports Trail Last Year
U.S. pork exports posted very strong results in August, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF), but beef exports were below the record-large totals of August 2018. Joe Schuele has more details. August pork exports increased 22% from a year ago to 221,586 metric tons (mt), while export value climbed 19% to …
VP Pence Calls on Congress to Pass USMCA
(NAFB) — Vice President Mike Pence spent time early this week promoting the U.S.-Mexico-Canada Agreement (USMCA) while calling on Congress to pass the trade deal. Pence penned an editorial in the Arizona Daily Star promoting the trade agreement. The Vice President also toured a Tyson Foods facility in Tennessee. Meanwhile, in a White House statement, Pence says USMCA will add …
President Trump Signs U.S.-Japan Trade Agreement; Ag Groups Respond
American Farm Bureau Federation Farmers and Ranchers Celebrate Japanese Trade Deal, Look Forward to More (AFBF-Oct. 7, 2019) — President Trump signed the U.S.-Japan Trade Agreement, which is an important step forward with U.S. agriculture’s fourth-largest export market. The following may be attributed to American Farm Bureau Federation President Zippy Duvall: “Today’s signing marks the successful end to more than a …
U.S. Trade Deficit Narrow with China
(NAFB) — The United States’ trade deficit with China is as small as it’s been in recent months. U.S. exports hit a five-month high, which Bloomberg says is a possible sign of goodwill from China as the two nations continue to try and resolve their trade war. According to data released late last week by the Commerce Department, the trade …
NMPF on U.S. Response to Illegal EU Subsidies Under WTO
ARLINGTON, VA (NMPF-Oct. 3, 2019) — “Subsidies and barriers that handicap U.S. businesses in the global marketplace by violating international trade commitments shouldn’t be tolerated. We strongly support the World Trade Organization’s imposition of $7.5 billion in retaliatory duties on European products, including dairy foods, to prod the EU to uphold its World Trade Organization commitments and reinforce the importance …
McConnell, Others, Optimistic on USMCA
(NAFB) — Senate Majority Leader Mitch McConnell hopes lawmakers can reach a resolution on the U.S.-Mexico-Canada Agreement soon. Speaking to CNBC this week, McConnell says “USMCA is something we can agree on,” referring to the Democrat-led House of Representatives and Republican-led Senate. President Donald Trump announced the three nations reached an agreement one year ago this week. Concerns regarding the …