Sorghum Prices Falls Three Times Lower After China Tariff Announcement

Grain-handling company Scoular tells Bloomberg that sorghum bids in the Gulf of Mexico have all but disappeared in the wake of a Chinese decision to impose a 179 percent tariff on U.S. imports. Bob Ludington oversees the Omaha, Nebraska-based company’s grain and oilseed division, and says there’s been very little trade. While some U.S. grain elevators are still bidding for …

Farmers for Free Trade Report Highlights Damage from Chinese Retaliation

Farmers for Free Trade released a new report that highlights the significant impact that Chinese retaliation from steel and aluminum tariffs will have on a number of U.S. industries. The report shows that many American commodities will be hit hard, including U.S. wine, almonds, walnuts, pork, cherry, and several other commodities. The report also says certain states’ economies will be …

NAFTA Ministers Back in Washington D.C. After Short Turnaround

U.S. Trade Representative Robert Lighthizer and his two counterparts in the North American Free Trade Agreement (NAFTA) negotiations are back at it in Washington, D.C. This marks a quick turnaround for the Mexican Economy Secretary and Canadian Foreign Minister, who were just in Washington last week for a meeting that both countries described as “productive.” Negotiators stayed in D.C. over …

Treasury Secretary Optimistic on Settling Trade Dispute

The International Monetary Fund and the World Bank both issued warnings that trade disputes could put a healthy global economic expansion in jeopardy. An Associated Press report says U.S. Treasury Secretary Steven Mnuchin showed cautious optimism over the weekend that the U.S. and China could settle their differences without a full-blown trade war. Mnuchin met recently with finance officials from …

Mexico/European Union Reach Trade Deal

The European Commission announced over the weekend that the European Union and Mexico had reached a free trade deal. A CNN Money report says the deal virtually eliminates tariffs on “practically all goods” traded between EU members and Mexico. The EU and Mexico said last year they would upgrade their trade talks to update the agreement they signed back in …

Rural Mainstreet Index Hurt by Trade Concerns

The Rural Mainstreet Index, which measures the economic outlook in rural America, was hit hard by rural bankers who expressed concerns about trade tensions and their effect on the farm economy. “An unresolved North American Free Trade Agreement and rising trade tensions with China are significant concerns,” says Ernie Goss, Creighton University economist and author of the Rural Mainstreet Index. …